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Vneshtorgbank has made its debut issue of ruble-denominated Eurobonds on the international market
Russian state-owned foreign trade bank Vneshtorgbank has made its debut issue of ruble-denominated Eurobonds on the international market, the bank said Friday. "The issue is worth 10 billion rubles [$362 million] with a maturation period of three years and an annual yield of 7%," the bank said, adding that calculations would be made in U.S. dollars. Barclays Capital and Citigroup Global Market Limited are the issue's lead managers for Vneshtorgbank, which is planning to hold an initial public offering in November 2006. "Foreign investors are highly interested in Vneshtorgbank's new instrument, which proves significant confidence in VTB on the international market," the bank said. "The big book of orders also proves international investors' confidence in the positive dynamics of the development of the Russian economy and its national currency with account for the Central Bank's policy to make the Russian ruble fully convertible in early 2007." Eurobonds were issued under Reg S with settlements through Euroclear/Clearstream and listing on the Dublin Stock Exchange. The following preliminary ratings have been granted to new eurobonds - A1 (Moody's), BBB (S&P) and BBB (Fitch).
Print Vneshtorgbank has made its debut issue of ruble-denominated Eurobonds on the international market Bookmark Vneshtorgbank has made its debut issue of ruble-denominated Eurobonds on the international market

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