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Russia's Vneshtorgbank to sell at least $500 million eurobonds in early 2005
By Paul A. Harris
St. Louis, Nov. 11 - Russia's Vneshtorgbank (VTB) plans to bring an offering of $500 million minimum of eurobonds at the beginning of 2005, according to a market source.
The source added that VTB has signed an agreement with ABN Amro Bank, Citigroup, ING Bank, JPMorgan and other banks to obtain a $300 million syndicated loan. Those four banks are expected to play prominent roles in the bond deal.
VTB is Russia's largest bank in terms of authorized capital. The major shareholder is the government of the Russian Federation.
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