MOSCOW, July 12 (RIA Novosti) - International Industrial Bank (IIB), a leading privately-owned Russian banking institution, said Thursday it had placed a three-year Eurobond issue totaling 200 million euros (about $275 million).
The bank, which is on a list of the country's top thirty banks published by the Central Bank, said proceeds from placing the bonds on external markets would be used to diversify and improve its debt structure, and expand potential for corporate credit and trade financing.
The Eurobonds will be mature on July 6, 2010, and bear coupon interest of 9% per annum. The issue managers are Calyon and Credit Suisse. The Eurobonds are the bank's debut euro-denominated issue. Previous placements were made in U.S. dollars, the bank said.
The Eurobonds were purchased by investors from Asia (35%), Spain and Portugal (29%), Switzerland (13%), Great Britain and Ireland (11%), Germany (8%) and other European states (4%), the IIB said.
