New Issue: Russia's Vnesheconombank sells $600 million add-on to 6.902% notes due 2020 at 102.176

By Christine Van Dusen

Atlanta, July 14 - Russia's Vnesheconombank priced a $600 million add-on to its 6.902% notes due 2020 (Baa1/BBB/BBB) at 102.176 to yield 6.6%, or Treasuries plus 350.3 basis points, an informed market source said.

The issuer priced $1 billion of the notes earlier in July at par to yield Treasuries plus 400 bps, a market source said.

Barclays, Citigroup, Societe Generale, ING, Troika Dialog and VTB Capital were the bookrunners for the Rule 144A and Regulation S deal.

Vnesheconombank is the Moscow-based Bank for Development and Foreign Economic Affairs.

Issuer:	Vnesheconombank
Amount:	$600 million
Maturity:	July 9, 2020
Description:	Add-on to 6.902% notes
Bookrunners:	Barclays, Citigroup, Societe Generale, ING, Troika Dialog, VTB Capital
Coupon:	6.902%
Price:	102.176
Yield:	6.6%
Spread:	Treasuries plus 350.3 bps
Trade date:	July 14
Settlement date:	July 22
Ratings:	Moody's: Baa1
	Standard & Poor's: BBB
	Fitch: BBB
Distribution:	Rule 144A/Regulation S
Original issue:	$1 billion priced July 1 at par to yield 400 bps over Treasuries
Total amount:	$1.6 billion

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