Support The Moscow Times!

VEB Cancels Bond Sale

Vneshekonombank pulled a sale of dollar bonds because of adverse market conditions, according a person with knowledge of the sale.

The lender planned to issue five-year bonds that may have been priced to yield about 5.63 percent. BNP Paribas, JPMorgan Chase, Morgan Stanley and Royal Bank of Scotland Group were hired to manage the sale.

VEB plans to continue with the deal once markets have stabilized, the person said Tuesday. The bank plans to sell as much as $3 billion of three-year domestic dollar bonds in five transactions, VEB said in regulatory filings on Oct. 20.

(Bloomberg)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.