Bank Kedr redeemed as part of a put option 63.2% of its 1-series exchange traded bonds worth Rub 950.1 mln taking into account an accumulated coupon yield of the aggregate Rub 1.5 bln bonded loan, the lending institution said in a press release, RIA Novosti reported.
For the record, Bank Kedr came out with 3-year 1-series bonds in June 2011. Rates on the first to third semiannual coupons were set at 9.25%, that on the fourth coupon was set at 10.7%, which puts yield to the semiannual put option at 10.99% годовых. The bonds are to be redeemed on June 28, 2014.
On December 4, 2012 Moscow Exchange registered three other issues of the lender’s exchange traded bonds (2- to 3-series bonds for a total of Rub 5 bln). 2- and 3-series bonded loans include 1.5 mln bonds each and 4-series instruments number 2 mln bonds. The par value of a bond is Rub 1,000 and the maturity period is three years. The bonds may be redeemed ahead of scheduled at the request of bondholders and at the issuer’s discretion.
