Russia's VEB postpones Swiss franc notes due to Cyprus uncertainty

By Christine Van Dusen

Atlanta, March 27 - Russia's Vnesheconombank (VEB) has postponed an offering of Swiss franc-denominated notes due to uncertainty about the financial turmoil in Cyprus.

Russian depositors stand to lose as much as $2 billion if a levy on deposits is imposed as a means to bail out Cyprus' banking system.

BNP Paribas and UBS were the bookrunners for the Regulation S deal, which was marketed during a roadshow from March 18-20.

VEB is a Moscow-based lender.

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