Russia's Vneshtorgbank talks dollar-denominated notes at Libor plus 60-63 bps

By Reshmi Basu

New York, Oct. 25 - Russia's VTB Capital SA (JSC Vneshtorgbank) set price talk for a dollar-denominated offering of senior floating-rate notes (A2/BBB) at three-month Libor plus 60 to 63 basis points, according to a market source.

Additionally, the benchmark-sized issue will have a tenor of 21 months.

The roadshow is scheduled to wrap up in London on Thursday.

Barclays Capital, Deutsche Bank and JP Morgan are joint bookrunners for the Rule 144A and Regulation S offering.

VTB is 99.9%-owned by the Russian state through the Federal Property Agency. VTB Group, of which VTB is the parent company and main entity, owns several other banks in Russia, as well as banks in Armenia, Austria, Cyprus, Georgia, Switzerland and Ukraine. The group offers banking services predominantly to Russian corporate, SME and retail clients, and has more than 200 outlets across the country.

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