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08/04/2008
Bank of Moscow placed 10m bonds of the first series worth a total of RUB 10bn (approx. USD 426.99m), the bank said in a statement. More than 20 bids were filed by banks, both Russian and foreign, and asset management companies on MICEX. The lower end of the range of coupon rates was at 8.74 percent. As a result of the auction, the first coupon rate was set at 9.25 percent per annum. The first coupon payment will total RUB 461.2m (approx. USD 19.69), or RUB 46.12 (approx. USD 1.97) per bond.
The bond issue, arranged by the Bank of Moscow, Deutsche Bank (Moscow), Commerzbank (Eurasija), and Sberbank, matures in three years.
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