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18.05.05

Raiffeisenbank acted as the Joint-Lead Manager of the EBRD inaugural RUB5 bln bond issue.

In May 2005, EBRD launched an inaugural 5 billion Russian Rouble(equivalent to ?140 million) floating-rate issue, breaking new ground asthe first placed in Russia by an international financial institution.For the first time in the history of the Russian bond market the issue''sfloating-rate coupon is linked to the recently created Moscow PrimeOffered Rate - the index designed to serve as a transparent benchmarkfor top-rated financial institutions wanting to raise funding inroubles. MosPrime Rate is launched under the auspices of Russia?sNational Currency Association (NCA).

Citigroup and ZAO Raiffeisenbank Austria are the Joint Lead Arrangers ofthe primary placement, with 10 other Russian and international banksparticipating in the underwriting syndicate. Senior co-lead managers areING, International Moscow Bank and Vneshtorgbank; co-lead managers areCommerzbank, West LB, ABN Amro, Gazprombank and HSBC; and co-managersare Deutsche Bank and JP Morgan.

National Depository Center acts as the payment agent, ING Bank (Eurazia)? as the calculation agent.

The proceeds from the EBRD?s rouble bond will be used to meet growingfunding needs for the renewal of Russia?s municipal infrastructure, aswell as the financing of typical clients such as small and medium-sizedenterprises (SMEs) and other Russian borrowers with no or limitedforeign currency income.

The European Bank for Reconstruction and Development was established in1991 when communism was crumbling in central and eastern Europe andex-soviet countries needed support to nurture a new private sector in ademocratic environment. Today the EBRD uses the tools of investment tohelp build market economies and democracies in 27 countries from centralEurope to central Asia. The EBRD is the largest single investor in theregion and mobilises significant foreign direct investment beyond itsown financing. It is owned by 60 countries and two intergovernmentalinstitutions. But despite its public sector shareholders, it investsmainly in private enterprises, usually together with commercial partners.

Raiffeisenbank Austria, ZAO has operated in Russia since 1996, offeringa wide range of services to companies and retail clients. The Bankdisposes of 20 outlets in Russia:11 branches, 2 cash offices and 3exchange offices in Moscow; a regional branch, a branch, and an exchangeoffice in Saint Petersburg and a regional branch Ekaterinburg. Based on2004 results, Raiffeisenbank is one of the largest Russian banks: ranked11th in terms of net assets among Top Russian banks and 11th in terms ofcorporate lending (CEA Interfax). Moody''s Interfax Rating Agency hasassigned the long-term national scale credit rating to RaiffeisenbankAustria at Aaa (rus) and the short-term rating at RUS-1, both ratingsare the best ones in their respective categories and were never beforeassigned to any Russian legal entity.

Raiffeisenbank Austria, ZAO is a subsidiary of Raiffeisen InternationalBank-Holding AG (Raiffeisen International). Raiffeisen International isa fully consolidated subsidiary of Raiffeisen Zentralbank ?sterreich AG(RZB), which owns 70 per cent of the common stock. The remaining 30 percent is free-float and traded on the Vienna Stock Exchange. RaiffeisenInternational is the steering company for 15 subsidiary banks and 14leasing units with more than 900 outlets in Central and Eastern Europe.RZB-Austria is the central institution of the Austrian RaiffeisenBanking Group, the country''s most powerful banking group.

 

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