Russia's Vnesheconombank sets talk for five-, 10-year dollar notes; pricing expected Monday

By Christine Van Dusen

Atlanta, Nov. 18 - Russia's Vnesheconombank (VEB) set talk for a two-tranche offering of dollar-denominated notes due in five and 10 years (expected ratings: /BBB/BBB), a market source said.

The five-year notes were talked at a spread in the mid-swaps plus 310 basis points area while the 10-year notes were talked at a spread in the mid-swaps plus 350 bps area.

Citigroup, HSBC, JPMorgan and Mitsubishi UFJ Securities are the bookrunners for the Rule 144A and Regulation S deal.

The notes are expected to price on Monday.

VEB is a Moscow-based lender.

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