Azernews.Az

The Russian branch of the International Bank of Azerbaijan (IBA) IBA-Moscow has acquired 2,956,575 bonds at the price of 100 percent of the nominal value of the bonds within the framework of the offer, said the message of IBA-Moscow, published on its website.

“Some 98.55 percent of the issue has already been redeemed,” said the message.

The total transactions volume amounted to 2.96 billion rubles, including the accrued coupon interest on the bonds in the amount of 6.56 million rubles, according to the message.

“Placement of a three-year issue took place on June 20, 2013 by public subscription,” said the message. “The amount of the issue is 3 billion rubles. The rates of the first, second and third coupons were set at 10.75 percent per annum. The rate of the fourth coupon is 13.5 percent per annum. The half year coupons are paid for the bonds. The possibility of early redemption of securities is provided.”

IBA-Moscow was founded in 2002. It is a subsidiary of International Bank of Azerbaijan - the largest bank in the country and the South Caucasus region.

Today, the IBA-Moscow Bank is a universal bank and is one of the TOP150 largest Russian financial institutions. As of October 1, 2014, the assets of the IBA-Moscow amounted to 40.8 billion rubles. At present, the bank's has its offices in Moscow, St. Petersburg and Yekaterinburg. In August 2014, Moody's Interfax Rating Agency assigned a rating on a national scale at the level of Baa2 to the IBA-Moscow Bank. In turn, Moody's Investors Service changed the outlook on the bank's rating on the international scale from B3 “Stable” to B3 “positive”.