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VTB Group acts as an arranger of Russian Railways bond issue

26 November 2008

VTB Group acted as an arranger of Russian Railways bond issue (series 11). OJSC Gazprombank, OJSC TransCreditBank, CJSC Troika Dialog Investment Company and OJSC Sberbank were also among the arrangers.

After the full placement, nine bids of investors were accepted. The first to the third coupon rate was set at 13.5% p.a. that is equal to the effective 1.5-year yield to put at 13.96% p.a.

The RUB 15 billion issue will mature in 7 years. TransCreditBank participated as the paying agent of the bond issue, and the National Depository Center - as the custodian.

Vitaliy Buzoverya, Head of VTB Group Investment Banking Fixed Income Trading Division, said: "Series 11 bond issue is the third one of Russian Railways involving VTB Group. The fact that an issuer as prominent as Russian Railways selected our bank as a financing arranger is very important for us. In cooperation with our partners, we successfully implemented this project in due time and in full".

For reference:
VTB Group is a leading Russian financial group with a strong tradition in Russia and the CIS, and a presence in 17 countries around the world. The Russian Government is VTB's majority shareholder, with a 77.5% holding. The remaining 22.5% of the shares are traded on the RTS and MICEX in Russia, and VTB's global depositary receipts are traded on the London Stock Exchange. VTB offers a wide range of services in corporate, retail and investment banking in Russia, some other CIS states and a number of countries in Western Europe, Asia and Africa. As of 1 July 2008, VTB was the second largest financial group in Russia by assets (USD 108.8 bln.) and by customer accounts (USD 44.6 bln.). VTB Group is among the top three national retail banks with a network of 1001 outlets in Russia and the CIS. In 2008, VTB launched its Investment Banking business, which operates from Moscow, London and Singapore offices.

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