Russia`s Locko-Bank has completed placement of a Eurobond issue in a volume of 3 billion rubles (about $118 million), the bank`s press office said Tuesday. The Eurobonds carry a coupon rate of 10.5% per annum and have a term to redemption period of 2 years, the press office said. Locko-Bank, one of the country`s top 150 banks, with a long-term credit rating of B- assigned by Fitch Ratings, placed its Eurobonds on the London Stock Exchange. The issue managers are Renaissance Capital and Standard Bank Plc., the press office said. The Eurobond issue was subscribed by investors from the U.K. (40% of the issue), Switzerland (13%), Russia (22%), the Netherlands (9%), Germany (6%), and U.S. offshore havens (10%), the press office said. Locko-Bank, which grants loans to small and medium business, is owned by several individuals, with none of them possessing more than 20% of the bank`s shares. International Finance Corporation, the private sector arm of the World Bank Group, holds a 15% stake in the bank, and East Capital Group possesses 11%.