On December 23, 2011, VTB Bank completed placement of its RUB 10 bln series BO-06 bond issue.
The bid book was opened on December 14, 2011, with a coupon rate set at 8.0%-8.5% p.a. Despite high volatility, deteriorated market environment and tough competition from other issuers, there was a strong demand for the bonds and VTB Bank closed the bid book at a rate of 8.5% p.a.
Over 50 investors, including Russian and international banks, as well as large investment and management companies, were among the participants.
The issue will mature in 3 years, while the offer is valid for a year.
VTB Capital has been appointed as lead manager of the bond issue.
Promsvyazbank and RON Invest acted as co-lead managers.
Bank Saint Petersburg, Raiffeisenbank, Russian Standard Bank and National Standard Commercial Bank acted as underwriters.