Official says VTB Capital can expand presence in Turkey, Africa

MOSCOW, Jun 13 (PRIME) -- VTB Capital plans to expand its presence in Turkey and Africa, Senior Vice President of VTB Riccardo Orcel told PRIME in an interview published on Tuesday.

“We are very active in Turkey, where local banks have fewer opportunities to give loans to companies due to a tough financial situation, so – as a source of additional financing – we are discussing with clients a Eurobond issuance, which would attract investor interest. Besides we are interested in selective bond placement for clients in Africa,” Orcel said.

He said that the bank has an office in Angola and its main clients are oil and mining companies. VTB also hopes to continue to provide sovereign debt services in the country.

VTB Capital discusses a panda bond issuance with Chinese banks because many Russian clients are considering the opportunity, Orcel said. “I think that in the future, China may become a new debt market for Russian companies.”

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