New Issue: Russia's VTB Bank prices CHF 350 million 5% notes due 2024 at par

By Christine Van Dusen

Atlanta, July 7 – Russia’s VTB Bank, through VTB Capital SA Luxembourg, sold CHF 350 million 5% notes due Oct. 24, 2024 at par to yield 5%, a market source said.

Credit Suisse, UBS and VTB Capital were the bookrunners for the Regulation S deal.

This was the largest non-domestic tier 2 transaction in the Swiss franc market, according to a company announcement.

VTB is a Moscow-based lender.

Issuer: VTB Capital SA Luxembourg

Amount: CHF 350 million

Maturity: Oct. 24, 2024

Description: Tier 2 subordinated loan participation notes

Bookrunners: Credit Suisse, UBS, VTB Capital

Coupon: 5%

Price: Par

Yield: 5%

Trade date: July 3

Settlement date: July 24

Distribution: Regulation S

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