Orient express bank Floats Eurobonds

2007.07.12

At the beginning of July Open-Joint Stock Company "Orient express bank" has successfully floated Eurobonds in amount of 5,4 billion roubles. Interest rate is 9,875% this is rather low price for resources in present situation of Eurobonds international market. The Eurobonds is due to 2009.

It's important to underline the fact that demand for the Bank's securities was outgrowing supply more then twice. The principal customers of Eurobonds were investors from the United States of America and Great Britain. This issue is one of few Russian issues of Eurobonds nominated in Roubles. According to book runners of this issue ABN AMRO and Standard Bank the issue shows the appeal of Rouble and Orient express bank's business.

Attracted resources are planned to use for development of the Bank's retail business