By Ivan Anderzhanov in Moscow
VTB Capital and France's BNP Paribas have acted as joint book-runners on Sfr 750m ($700m) two-year Eurobond issue for VTB Bank, the parent of VTB Capital.
The deal was significantly oversubscribed which allowed to increase the initially announced size Sfr 150m to Sfr 450 and then to Sfr 750m.
VTB, Russia's second largest bank, placed bonds at 7.5% with a 2011 maturity. The notes will be listed on the Swiss Stock Exchange.
VTB Board Member Nikolai Tsekhomsky said in the statement: "The access to the Swiss market allows the VTB Group to diversify its investor base and to broaden the sources of funding."
Andrey Solovyev, global head of debt capital markets of VTB Capital, added: “This is the first issue by VTB Bank in the Swiss retail market allowing to broaden issuer’s investor base. The transaction is the largest ever Sfr Eurobond placement by a Russian issuer."
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