New Issue: Russia's VEB prices €1.5 billion notes due 2018, 2023 at par

By Christine Van Dusen

Atlanta, Feb. 14 - Russia's Vnesheconombank (VEB) priced a €1.5 billion two-tranche issue of notes due Feb. 21, 2018 and 2023 via bookrunners Barclays, Commerzbank and ING, a market source said.

The Regulation S deal included €1 billion of 3.035% notes due 2018 that priced at par to yield 3.035%, or mid-swaps plus 195 basis points.

The second tranche was made up of €500 million of 4.032% notes due 2023 that priced at par to yield 4.032%, or mid-swaps plus 215 bps.

VEB is a Moscow-based lender.

Issuer:	Vnesheconombank (VEB)
Amount:	€1.5 billion
Description:	Notes
Bookrunners:	Barclays, Commerzbank, ING
Trade date:	Feb. 14
Settlement date:	Feb. 21
Distribution:	Regulation S
Five-year notes
Amount:	€1 billion
Maturity:	Feb. 21, 2018
Coupon:	3.035%
Price:	Par
Yield:	3.035%
Spread:	Mid-swaps plus 195 bps
Ten-year notes
Amount:	€500 million
Maturity:	Feb. 21, 2023
Coupon:	4.032%
Price:	Par
Yield:	4.032%
Spread:	Mid-swaps plus 215 bps

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