28 Jan '09
The Bank of Russia has canceled the registration of Far East Bank’s three-year, first-series bond issue as no bond was floated in due time, sources in Far East Bank announced today.
The $47m issue was registered on November 14, 2007. It has been annulled as no bond was placed after a 12-month period given by law, RIA Novosti reported, citing Far East Bank.
Far East Bank is the Far East Federal District’s largest individual bank by capital value. It is part of inter-regional banking group Al-Russian Bank for Regional Development with oil company Rosneft being its largest stockholder.