First Issue of ZENIT's Eurobonds Redeemed on June 12, 2006
Bank ZENIT placed its first Eurobond issue in 2003, and thus was one of the first Russian banks that issued Eurobonds after the 1998 crisis. The bonds totalled USD125 million and had a coupon rate of 9.25% p.a. with a 3-year maturity.
Bank ZENIT is an active participant in international and domestic capital markets. In addition to issuing Eurobonds, ZENIT has borrowed 4 syndicated loans since 2001, acting within the framework its of borrowings programme. Two issues of the Bank's rouble-denominated bonds with a total nominal value of RUR3 billion are currently circulating in the domestic market.
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