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VTB signs U.S.$1, 400, 000, 000 Syndication Debt Facility Agreement
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| 25.06.2008 - Cbonds |
VTB signs U.S.$1, 400, 000, 000 Syndication Debt Facility Agreement
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VTB is pleased to announce that it has signed a U.S.$1, 400, 000, 000 Syndicated Loan Facility with a group of international lenders.
The syndicated loan was lead-arranged and syndicated by 10 leading international financial institutions - The Bank of Tokyo-Mitsubishi UFJ, Barclays Capital (investment banking division of Barclays Bank PLC), BayernLB, BNP Paribas, Citibank N.A., London,
Deutsche Bank AG London Branch, Intesa Sanpaolo Bank Ireland plc, J.P. Morgan plc,
Mizuho Corporate Bank, Ltd., and Sumitomo Mitsui Banking Corporation Europe Limited.
The loan facility is split between the 18-month tranche and the three-year tranche and the proceeds will be used by VTB for general corporate purposes. The margins are L+60bp. and L+65bp., respectively.
Nikolai Tsekhomsky, Chief Financial Officer of VTB said: "The deal is the largest syndicated loan by volume for a Central and Eastern European financial institution this year. The fact that the facility was oversubscribed by $400m reflects strong market demand for VTB name. Also, the fact that Facility secured participations from a large and geographically diverse group of lenders, shows that the borrowers who are able to demonstrate a good track record of stable development, a defensible business case and a devoted group of relationship bankers, are still very much welcome in the lending market and have the capacity to generate healthy demand." |
Issuer profile: VTB is a recognized leader of the national financial industry having gained a sustained competitive edge in all segments of the banking market. As of December 31, 2007 according to IFRS (consolidated), its shareholders equity totaled US$ 16.5 billion, enabling VTB to meet the Basle capital adequacy requirements with a safe margin. The assets of the Bank as of December 31, 2007 amounted up to US$ 92.6 billion.
The “Banker” magazine has ranked VTB the 116th among the world’s 1000 largest banks by capital.
Presently, the Government of the Russian Federation is the major shareholder of VTB, with its share accounting for 77.5%. In May 2007 during the IPO newly issued shares, representing 22.5% of VTB’s enlarged share capital, were allocated among Russian and international investors. The aggregate amount of funds raised approximated US$ 8 billion, making the VTB’s IPO the world’s largest public offering in 2007. It also proved to be most public in the history of the Russian stock market, since more than 120 thousand Russians have become VTB shareholders during the IPO.
As a result of the IPO, market capitalization of VTB, whose shares are now traded on the MICEX and RTS, as well as on the London Stock Exchange in the form of Global Depository Receipts, has exceeded US$ 35.5 billion. VTB authorized capital is presently RUR 67.2 billion./12.05.08
Outstanding issues:
9 issue(s) outstanding worth USD 6 838 300 000
5 issue(s) outstanding worth RUR 75 000 000 000
3 issue(s) outstanding worth EURO 2 500 000 000
1 issue(s) outstanding worth GBP 300 000 000
Issuer's rating:
| Moody's |
Baa1/Positive |
Int. Scale (foreign curr) |
07/18/2008 |
| National Rating Agency |
AAA |
National scale (Russia) |
07/01/2007 |
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