Russia's Intl Industrial Bank prices $100 mln 3-year LPN

Russia's International Industrial Bank has priced its U.S. $100 million 3-year loan participation notes (LPN), lead managers of the offering, Barclays Capital and Vneshtorgbank, said Tuesday.

The coupon rate was set at 9.5% with the bonds placed at par, the lead managers said.

The bond issue carries semiannual coupons, is listed in Ireland and matures on July 31, 2009. It also has a call option on January 31, 2008.

The payment date is July 31.

The bond is placed through IIB's subsdiary International Industrial Bank Luzembourg.

The International Industrial Bank is also known as Mejprombank, or Mezhprombank.

The International Industrial Bank is a top 20 Russian bank in terms of assets. In 2005, the net profit of the bank and its subsidiary banks amounted to 3.4 billion rubles, while assets amounted to 75 billion rubles and capital stood at 32 billion rubles as of the end of 2005.