Eurasian Development Bank (EDB) plans to issue Eurobonds for U.S. $500m with 5-year maturity. As of Sept. 22, 2009, the bank registered 7.375% annual redemption yield. The investors’ bid book made up over U.S. $5bn exceeding the offer for 10 times, EDB press service informed NEWS.am.

This issuance takes place within the framework of The European Medium Term Note Program (EMTN), registered at London stock exchange in late 2008 with a total volume of US $3.5bn. In April-July 2009, EDB issued international bonds in Kazakhstan totaling to 20bn Tenge (about U.S. $133m). It is expected that the bank will dump Ruble borrowings on the market throughout Russia’s territory shortly.

EDB was attracted to Armenia as an investor in construction project of the new atomic power unit (generating capacity of 1200 MW and useful life of 60 years.) The U.S. $4bn project is due to be completed by 2016.