Russia's VTB Bank talks benchmark dollar-denominated global bonds at mid-swaps plus 400 bps

By Paul A. Harris

St. Louis, Feb. 24 - The Russian Federation's JSC VTB Bank (Baa1/BBB/BBB) set price talk for its benchmark dollar-denominated offering of global bonds at mid-swaps plus 400 basis points on Wednesday, according to market sources.

The deal is expected to come in tranches of five-year and/or 10-year notes.

The roadshow was scheduled to conclude on Wednesday in London.

Pricing is expected late this week or next week.

Deutsche Bank, JPMorgan and VTB Capital are the lead managers for the deal, which is being marketed under Rule 144A and Regulation S.

VTB is a Moscow-based full-service banking company.

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