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Vneshtorgbank distributes thirty-year Eurobonds worth US$1 billion

28 June 2005

On 1 June 2005, Vneshtorgbank distributed the sixth issue of eurobonds worth US$1 billion. Eurobonds were issued under the medium-term debt instrument program by VTB Capital S.A., Luxembourg, for the total amount of US$3 billion and were distributed at par with a thirty-year maturity. Bondholders are entitled to an early redemption after 10 year (put option). The issue coupon rate is 6.25%. Eurobonds shall be listed at the Luxembourg Stock Exchange.

This issue has hit a record for Russian financial institutions in terms of its maturity. Eurobonds are issued under RegS/144А Standard, which enables placing securities in Europe and Asia, as well as in the USA.

The issue placement was arranged by Deutsche Bank Securities Inc.

For reference: Under the Medium Term Debt Instrument Program totaling US$3 billion, Vneshtorgbank has already distributed five issues of eurobonds of VTB Capital S.A., Luxembourg, namely:

  • in December 2003 with an additional issue in March 2004 - 5-year eurobond totaling US$550 million;
  • in April 2004 - 12-month eurobonds totaling US$325 million - redeemed in April 2005;
  • in July 2004 - 3-year eurobonds totaling US$300 million;
  • in October 2004 - 7-year eurobonds totaling US$450 million;
  • in December 2004 - 18-month eurobonds totaling US$350.

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