Saturday, June 23, 2018

Otkritie Bank purchases over 4 million BO-03 series bonds

Last week, Russia's Otkritie Bank announced the completion of a planned transaction to purchase more than 4.1 million BO-03 series stock bonds.

In total, the bank acquired 4,161,994 bonds at 100 par for a purchase price of approximately $115.5 million. Additionally, the bank paid an accrued interest income on the purchased bonds in the amount of $4.95 million at the time of purchase.

The BO-03 bonds acquired by Otkritie Bank were initially placed on MICEX on September 8, 2012. At the time of placement, the bonds were valued at $140 million.

At the time of purchase, BO-12, BO-02 and BO-04 remained in circulation, each valued at $140 per series. Additionally, BO-05 and BO-06 bonds remain in circulation carrying a value of $330 million and $190 million, respectively.

The remaining eurobonds are scheduled to mature at varying times between 2014 and 2019.

Otkritie Bank's purchase of the BO-03 series bonds was conducted under the oversight of the Bank of Russia and has been included in the Lombard list. Following the purchase of the bonds, the bank's cash assets were estimated at $1.65 billion.