Vneshtorgbank (VTB) said it has appointed Cibitbank as organizer and ING Bank (Eurasia) as co-organizer for a second issue of ruble discount bearer bonds totaling 1 billion rubles.
The auction to determine the placement price of the two-year bonds will be held on the Moscow Interbank Currency Exchange on April 23. The certificates of the securities must be held at the National Depository Center.
The issuer will publish an offer every six months to buy back the bonds. Theount paid in the offer will be adjusted in line with changes in the ruble`s official exchange rate against the dollar in the previous six months.