Alfa-Bank issues $17 mln bonds pegged to robotics index

MOSCOW, Apr 10 (PRIME) -- Russia’s Alfa-Bank has placed U.S. $17 million of 3.5-year exchange structured bonds pegged to the index of artificial intelligence, automation, and robotics companies provided by Societe Generale, as seen by PRIME in materials of the bank on Tuesday.

In March, Denis Anoshin, director for structured products at Alfa-Bank, told PRIME that the bank planned to collect bids or U.S. $30–50 million of the exchange structured bonds from March 20 through April 10.

The issue should carry three coupons – in a year since the placement date, in two years, and at maturity. Historical data allowed the bank to set 8% as the target yield. But it is pegged to the index, the fixed rate will be 0.01%, Anoshin said then.

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