CBM has won international award for most innovative bond deal


Credit Bank of Moscow (CBM) has won the award of the British magazine International Finance in the nomination "Most Innovative Bond Deal".

The magazine recognised CBM's EUR 500 mln 5.15% p.a. 5-year senior Eurobond as the most innovative. The notes were issued under Rule 144a and Regulation S to a strong demand in continental Europe, UK and USA. In total, more than 120 orders were given from 19 countries of the world.

“The debut euro-denominated bond issued by Credit Bank of Moscow in 2019 was a remarkable transaction in several aspects: first, the Bank received long-term euro resources to fulfill its corporate customer’s financing needs in this currency, then it allowed the Bank to increase and diversify its investors’ base, as a significant number of funds of continental Europe invested for the first time in Credit Bank of Moscow’s name. Finally, fair pricing was achieved, as a result of an over-subscription of the bond as well as a proper timing in a favorable market window” – commented Vladimir Chubar, Chairman of the Management Board.

International Finance Awards is one of the most prestigious awards in the Middle East, Asia, Europe and Africa. It is intended for companies who work in the fields of finance, banking, asset management, brokerage, insurance, energy, oil & gas, logistics and utilities, and are active in the international markets.