IBEC fulfilled its obligations on buyback of bonds

On October 10, 2022, the International Bank for Economic Co-operation fully fulfilled its obligations on buyback of bonds of series 001Р-01. IBEC debut issue was placed in October 2019 in the amount of 7 billion rubles with a three-year put-option.

The Bank fully paid the nominal value and the accumulated coupon income to all bondholders who submitted sale orders. Earlier, on September 27, 2022, the semi-annual coupon rate was set at 10.25% per annum for 1 year. As a result of preliminary negotiations and secondary sale, investors repurchased bonds in the total amount of 2.8 billion rubles.

The Bank's business model, which is based on short- and medium-term trade finance, allows us to quickly accumulate funds even in difficult market situations. The quality of assets and liabilities was confirmed by the highest ACRA rating on the national scale AAA(RU) as part of regular monitoring on September 15, 2022. Given the unfavorable market conditions, we have focused our efforts on ensuring liquidity to buy back the entire volume of the issue. And we especially appreciate the decision of a number of investors to repurchase the bonds. Taking into account the status of IBEC and the proposed yield, we hope for a secondary placement of bonds in the near future.
Denis Ivanov, Chairman of the IBEC Board
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