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Vneshtorgbank debuts with rouble-denominated Eurobond issue

 
7 April 2006

Vneshtorgbank launched its first rouble-denominated issue of unsecured Eurobonds in the international market. Issue amount is 10 billion roubles. Maturity is three years, yield is 7% p.a., settlements will be made in US dollars. Arrangers of the issue are Barclays Capital and Citigroup Global Market Limited.

A new debt instrument was well welcomed by foreign investors, showing considerable credibility to Vneshtorgbank from the international community. A large order portfolio also confirms firm belief of global investors in positive trend of Russian economic development and its national currency with due regard to the policy pursued by the Bank of Russia towards full rouble convertibility in early 2007.

Eurobonds were issued under Regulation S with settlements to be made through Euroclear and Clearstream clearing systems and listing at the Dublin Stock Exchange.
New securities were assigned preliminary ratings at A1 (Moody's) / BBB (S&P) / BBB(Fitch).


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