Sales of VTB's perpetual subordinated bonds exceeded RUB 30 bn

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AK&M 20 February 2021 12:11

Since the start of offering, sales of VTB's perpetual FX-denominated subordinated bonds have exceeded RUB 30 billion, the bank informed.

About 99% of the bonds sold are in the hands of retail investors, the share attributable to VTB Private Banking clients reaches about RUB 23 billion.

Sales of new subordinated VTB bonds to qualified investors started on the Moscow Exchange on February 8, 2021. Four 182-day issues of securities with fixed and floating coupon rates denominated in US dollars and euros are offered to investors at once. The fixed coupon rate is 5% p.a. in US dollars and 3.75% p.a. in euros, coupon 1 on floaters is equal to SOFR + 4.5% p.a. for bonds in US dollars, EURIBOR + 4.15% p.a. for bonds in euros. The issues will be offered through March 24, 2021.

VTB Group is a Russian financial group comprising more than 20 credit and financial companies operating in all the key segments of the financial market. In the CIS, the group is active in Armenia, Ukraine, Belarus, Kazakhstan, Azerbaijan. VTB's banks in Austria, Germany and France are operating as parts of the European sub-holding led by VTB Bank (Austria). Besides, the group has subsidiary and affiliate banks in the UK, Cyprus, Serbia, Georgia and Angola, as well as one VTB branch in China and India, two VTB Capital Plc branches in Singapore and Dubai.