The Russian Regional Development Bank has completed placing its bonds ofthe first issue, the press service of this credit organization reported.The issue amounted to 575m rubles ($18.25m). Underwriters of the issue wereRosbank, Guta Bank, Petrocommerce Bank and Lanta Bank.The bank's bond issue prospectus was registered by the Central Bank onSeptember 12, 2001. A bond's par value is 1,000 rubles ($31.74) with a2,922-day (eight year) maturity period. Coupon payments are to be madeevery quarter. The first coupon's payment will have a 17 percent annualinterest rate, the second - 20 percent, the third - 18 percent, the fourth- 16 percent and from the fifth to the thirty second - 10 percent.The bank posted an offer to redeem its bonds at a 19 percent annualinterest rate on August 15, 2003..