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VTB Bank preparing to offer Eurobond in Singapore dollars
July 22, 2010
VTB Bank is making preparations to place Eurobonds denominated in Singapore dollars, RIA Novosti reported quoting a source familiar with the placement terms. VTB Capital and OCBC Bank were appointed Eurobond arrangers. A road show will take place in Singapore on July 27—28.
A source in the banking circles told RIA Novosti in July that VTB Bank placed 3-year Eurobonds worth 300 mln Swiss francs. According to the same source, the coupon rate was set at 4%, with the yield exceeding market average swaps by 315.5 basis points. The Eurobonds were in high demand among investors, as a result of which the Eurobonds were oversubscribed by over 100%.
The target for the Eurobond yield is 4%. The amount of money scheduled for attraction is 150 mln Swiss francs.
VTB Bank held a road show for these Eurobonds in Zurich and Geneva on July 8. BNP Paribas and VTB Capital acted as arrangers for the road show. At present, in circulation are VTB Bank's Eurobonds denominated in Swiss francs (worth $648 mln) due August 2011. The coupon rate is 7.5%.
A source in the banking circles told RIA Novosti in July that VTB Bank placed 3-year Eurobonds worth 300 mln Swiss francs. According to the same source, the coupon rate was set at 4%, with the yield exceeding market average swaps by 315.5 basis points. The Eurobonds were in high demand among investors, as a result of which the Eurobonds were oversubscribed by over 100%.
The target for the Eurobond yield is 4%. The amount of money scheduled for attraction is 150 mln Swiss francs.
VTB Bank held a road show for these Eurobonds in Zurich and Geneva on July 8. BNP Paribas and VTB Capital acted as arrangers for the road show. At present, in circulation are VTB Bank's Eurobonds denominated in Swiss francs (worth $648 mln) due August 2011. The coupon rate is 7.5%.
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