The First Issue of Exchange-Traded Bond Series Was Successfully Underwritten

2010.03.16

On March 11, 2010 the exchange-traded bonds series BO-01 of Orient Express Bank were successfully underwritten in value of 1 billion Roubles at Moscow Currency Stock Exchange. The issue was underwritten with significant oversubscription.

Coupon rate was determined at rate 12.5 % per year that is considerably lower then a planned rate.

The bookrunner was OJSC “Orient Express Bank”, co-arrangers were Russian subsidiary of "RONIN Partners" and company “BCS”. On March 12, 2010 the bonds were admitted to trading at MICEX.

Such floatation of the series shows that Orient Express Bank gains securities’ market confidence and its model of further development is accepted by investors. If favorable situation continues the Bank will place the second and the third issues of exchange-traded bonds in 2010.