On 20 March, 2012 VTB Bank completed placement of its BO-03 and BO-04 series ruble-denominated bond issues of RUB 10 billion total nominal value.
Deputy President and Chairman of the Management Board of VTB Bank
The bid book was opened for two days with the coupon rate ranging from 8.00% to 8.35% p. a. During the bookbuilding over 50 bids totaling to about RUB 21 billion were accepted. Due to high demand for the bonds the coupon rate range was decreased to 8.00 – 8.15% p.a. Based on the bookbuilding results, on March 16, 2012 VTB Bank decided to set the first coupon rate at 8.00% p.a. The issue maturity is 3 years; the offer is valid for 2 years.
VTB Capital has been appointed as lead manager of the bond issue. Region Broker Company, RON Invest, and Ursa Capital acted as co-lead managers. BCS, Veles Capital, WestLB Vostok Bank, Credit Bank of Moscow, Raiffeisen Bank, Royal Bank of Scotland, and Uralsib Bank acted as underwriters.
Herbert Moos, Deputy President and Chairman of the Management Board of VTB Bank, said: “It has been already the second issue of VTB Bank’s ruble-denominated bonds this year; we still consider domestic bond market as a stable source of borrowings”.