VTB plans to offer 2 subordinate bonds for at least 20 bln rbl

MOSCOW, Oct 13 (PRIME) -- Russia's second biggest lender VTB plans to offer two issues of subordinated bonds amounting to at least 20 billion rubles, the bank said in a statement on Tuesday. 

"VTB starts placement of two issues of subordinated bonds SUB-T2-1 and SUB-T2-2 amounting to at least 10 billion rubles each on October 14. The face value of each security of each issue stands at 10 million rubles. Issues provide for early repayment at the Issuer's discretion in 5.5 years and further at each coupon date with the total maturity of 10.5 years," the bank said.

The SUB-T2-1 issue has a fixed coupon of 7.6% annually for the first 5.5 years. The SUB-T2-2 issue carries a floating rate of the key rate plus 2.2%. The coupon yield is to be paid twice a year.

The placement will take place on the Moscow Exchange for two months. The bank explained the prolonged placement by a success of the previous bond offering.

(77.0239 rubles – U.S. $1)

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