CREDIT BANK OF MOSCOW issues RUR 2 bln 3 year domestic bonds


April 29, 2009 — CBM successfully placed its fifth domestic bond issue in amount of RUR 2 bln (more than US$60 mio) with 3 year maturity at MICEX. The bonds were placed in full by way of an auction. This bond issue stipulates repayment of six coupons and a put option with the possibility of being exercised in one year. The first coupon rate is 15% p.a. as well as the second one; the rest coupon rates are to be determined by the bank.

The total number of applications comprised 16 with the indication of 15%-17% p.a. yield. The following banks were the members of the syndicate: Tatfondbank, Russ-Bank, FUNDSERVICEBANK, Bank Avangard, MBRD, etc.

"The auction had a success. The rate level and the placement volume correspond to preliminary forecast. Continuous interest in CBM’s bonds proves investors’ confidence in our bank and its resilience in the market. CBM is to place the sixth bond issue in the same amount this summer," – comments Vladimir Chubar, Deputy Chairman of the Board of the Bank.

Currently CBM’s 2nd, 3rd and 4th bond issues included in the CBR’s Lombard List of securities are in circulation at MICEX in A1 quotation list.