B&N Bank has successfully repaid its Eurobonds issued in 2006

On May 18, 2009 B&N Bank fully repaid its Eurobond issue for the amount of USD 100 mln. as per conditions of the deal.

Initially a 3-year Eurobond program was launched in May 2006 with the total amount of USD 200 mln. and a coupon rate at 9.5%. In May, 2007 B&N Bank redeemed USD 100 mln. according to ‘put-option’ agreed in the framework of terms and conditions of the placement.

This was the largest debt repayment for B&N Bank in 2009-2010 and the single deal related to Eurobond placement in the international market. We would like to emphasize that today the Bank keeps prudential ratios of the Central Bank of Russia (CBR) governing liquidity at the level considerably better than satisfied.

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