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VTB's Middle East Plans Stay

VTB Group is still planning to borrow in the Middle East this year, as investors aren't discouraged by the recent turmoil, deputy chairman Herbert Moos said Wednesday.

The lender is looking at possibilities to issue debt in Middle Eastern countries where there are "still pockets of liquidity," Moos said. "Of course, it doesn't help, what has happened, but investors don't see it as a contagion," he said.

VTB, which was the first Russian company to borrow in Singapore dollars and Chinese yuan, said last year that it might tap the market for Islamic financing.

(Bloomberg)

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