IIB successfully closes the book for its second largest debt transaction on the Moscow Stock Exchange
International Investment Bank (А3(Moody's) / А-(S&P) / BBB+(Fitch Ratings)/ AAA(RU)(АCRA)) successfully closed an order book for the bonds in the nominal amount of RUB 7 billion, with a 5-year maturity. The bonds will be rated by ACRA by placement day. The settlement of the bonds is planned to take place on the April 29, 2020 on the Moscow Stock Exchange.
After almost 2 years of absence in the Russian market, despite the volatile external environment caused by the COVID-19 across the globe overall, and in Russia, in particular, IIB has proven again the benefits of a long-standing relationship with its Russian investor base.
The high credit quality of International Investment Bank had ensured significant demand for bonds from all major categories of investors, which allowed the institution to reduce the coupon rate to 7.75% per annum, which is 10 basis points lower than the initial pricing guidelines.
BC Region acted as the lead manager of the issuance.
“The success of today’s placement confirms IIB’s achievements across the years and the investors’ trust in our story that continues its development in the face of challenging times. The Russian debt market remains very important for the Bank since this is where year-by-year we consolidated our position as an issuer and received recognition for our achievements, including investments we made into the Russian economy”, highlighted Nikolay Kosov, Chairperson of the IIB Management Board.
“Needless to say, we have been preparing to take this action for some time and have been patiently waiting for a stabilization of the RUB market in order to have a successful comeback. The execution was very swift and we faced a strong demand that allowed to achieve a very competitive pricing compared to our peers in the RUB debt market”, Jozef Kollar, First Deputy Chairperson of the IIB Management Board in charge of DCM and Treasury operations commented.