MDM Bank Repurchases 90.6 Percent of Ruble Bond
07.10.2008 18:48
Moscow, 07 October 2008 - Today MDM Bank bought back 90.6% of its RUR 6bn bond at 100 percent of the face value in accordance with the put option embedded in the bond issue. As the Bank expected, the majority of investors have exercised the put option for the bonds. Currently, MDM Bank does not have plans to place the bonds back on the market at a higher rate.
MDM Bank
MDM Bank was founded in December 1993 and holds a General Banking License issued by the Central Bank of Russia (#2361 dated 31 March 2008). MDM Bank is one of the most dynamically developing banks in Russia and is among the top Russian banks in terms of assets and equity. Today, MDM Bank is a modern universal financial institution offering a full range of services to its clients. MDM has one of the highest credit ratings among privately-owned Russian banks – Standard & Poor’s (BB, stable), Fitch Ratings (BB, stable) and Moody’s (Ba1, stable) – and is the only Russian financial organization that has been given a public Corporate Governance Score by Standard & Poor’s (CGS-6+).
Standard & Poor’s awarded MDM Bank the highest ranking in its study of “Transparency and Disclosure by Russian banks” in 2006 and 2007. The Bank was also regarded by Euromoney magazine as “one of the leading banks in Russia and Emerging Europe, applying the most advanced standards of corporate governance.”
MDM Bank has received a number of awards from Global Finance magazine:
2005 – Best Domestic Bank and Editor’s Special Award for Transparency.
2006 – Best Forex Bank, Best Domestic Bank, Best Domestic M&A Arranger, and Best Bank in
Corporate Governance. In October 2006, Euromoney magazine awarded MDM Bank Leading Bank in Corporate Governance in Emerging Europe.
2007 – Corporate Governance Editor’s Award, and Best Forex Bank.
2008 – Best Domestic Bond Research Team
2008 - Euromoney magazine named MDM Bank the Best Managed Bank in Corporate and
Investment Banking in Central and Eastern Europe – 2007
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