By Reshmi Basu
New York, Oct. 1 - Vneshtorgbank, via its financing vehicle VTB Capital SA, priced $350 million seven-year bonds (Baa3/BB+) at par to yield 7½%, or 370 basis points over Treasuries, according to a market source.
The notes are non-callable.
The deal priced in line with price guidance of 7½%.
Citigroup Global Markets and Dresdner Kleinwort Wasserstein ran the Rule 144A/Regulation S deal.
The Moscow-based bank is state-owned.
| Issuer: | VTB Capital SA
|
| Amount: | $350 million
|
| Issue: | Bonds
|
| Maturity: | Oct. 12, 2011
|
| Coupon: | 7½%
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| Issue price: | Par
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| Yield: | 7½%
|
| Spread: | 370 basis points over comparable Treasuries
|
| Pricing date: | Oct. 1
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| Settlement date: | Oct. 12
|
| Managers: | Citigroup Global Markets, Dresdner Kleinwort Wasserstein
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BB+
|
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