Isabelle Laurent said the EBRD would issue bonds with a maturity of at least three years because the bank offered long-term funding to companies. She added the value of the third bond issue could be specified depending on the volume of the bank's financing at the time of placement.
The EBRD placed its first five-year bond issue worth 5 billion rubles in May 2005. The floating rate of the issue's coupon was pegged to the Moscow Prime Offered Rate (MosPrime Rate) and the first coupon carried an interest rate of 4.04% per annum.
Laurent also said the EBRD had fully placed its second five-year ruble-denominated bond issue in April 2006. Demand equaled 5.5 billion rubles (about $200 million) compared with the issue's value of 5 billion rubles at par (about $182 million). The issue's first coupon rate was set at 5.56% per annum. The first coupon will yield an interest of 69.3 million rubles (about $2.5 million) or 13.86 rubles (about $0.5) per bond.
