URSA Bank went for a public offering of ?400 million worth of three-year Eurobonds with an interest rate of 7% a year; the issue’s lead managers are ABN Amro and Deutsche Bank.

‘This offering is different from the other Russian banks’ Eurobond issues in that it gives good diversification opportunities; this why the bank managed to find some serious investors,’ Deutsche Bank says.

URSA Bank intends to spend the finances obtained through the bond issue on developing loans to businesses, the bank’s press officer reports.