On 7 March 2007, within the framework of medium-term Eurobonds issue programme VTB fixed the yield on Eurobond issue 12 worth GBR 300 million. It is the first time in Russian history that Pounds Sterling denominated in Eurobonds have been placed.
Fixed coupon Eurobonds were issued by VTB Capital S.A., Luxemburg for a 3-year term. The coupon rate amounted to 6.332% p.a. (spread to MidSwap in pounds sterling amounted to 70 b.p., which is equal to the VTB liability yield in the secondary market as at pricing. Bond listing will be made in the Irish stock exchange. Eurobonds were issued under Regulation S of USA Securities Act that stipulates securities placement in European and Asian markets (without investors).
The arrangers of the bond placement were Barclays Capital, BNP Paribas, Deutsche Bank and HSBC.