Credit Bank of Moscow issues RUR 1 bln 3 year domestic bonds.


June 8, 2006 - CBM successfully placed its second domestic bond issue in amount of RUR 1 bln (c. US$37 mln) with 3 year tenor paying 10.4% the first year. The deal was rated BB+ (rus) by Fitch Ratings and went 30% oversubscribed. The arranger was Credit Bank of Moscow itself. The proceeds are intended to boost CBM's lending operations.