Support The Moscow Times!

VTB to Top Up Bond

VTB has opened the books to top up its $1 billion perpetual eurobond issue, which will help it support lending growth, three banking sources said.

The top-up will be "of a benchmark size," which starts from $500 million for names such as VTB, two of the sources said. The third source said that books are already covered for a minimum of $500 million. VTB declined to comment.

VTB, in which the state owns a 75.5 percent stake, raised $1 billion with a perpetual bond this summer in the first deal of its kind in Russia to boost its Tier 1 capital adequacy ratio, which stood at 8.9 percent at the end of June.

(Reuters)

Related articles:

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.