Rosbank to coordinate Sverdlovsk Region’s bond issue

Rosbank is going to coordinate the issue of Sverdlovsk Region’s 2010 bonds, the region’s Finance Ministry reports.

Quite a few organizations competed for this task in a tender, including VTB Capital, Troika Dialog Investment Company, the Bank of Moscow, Promsvyazbank, Bank URALSIB, and Svyaz-Bank.

All of these companies, with the exception of Promsvyazbank, also took part in the preceding tender announced on August 31, 2010; however, that tender was called off.

Now Sverdlovsk Region intends to go through with a bond issue that will be worth up to 2 billion RUR and will remain in circulation for five years before December 25, 2010. In case borrowing money turns out to be unnecessary, the issuer reserves the right to cancel the bond issue or issue fewer bonds than originally expected.

According to Vedomosti, Rosbank has agreed to a commission of 0.01%; VTB Capital asked for 0.35% and Troika wanted a 0.3% commission.


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