VTB Capital successfully placed a Nomos Bank subordinated USD 350mn Eurobond issue, which matures in 5.5 years and will count as Tier 2 capital for Nomos Bank. It is the largest Eurobond issue by Nomos Bank and first Tier 2 issue out of Russia in 2010.
Investors from Europe, UK, Asia and Russia participated in the transaction. With orders from over 80 investors, the issue was over two times oversubscribed, allowing to lower the coupon by more than 50 bps from initial guidance to 8.75%.
Andrey Solovyev, Global Head of DCM at VTB Capital, said: “We continue to strengthen our market position as bookrunner of choice for CIS issuers. Current market conditions are very favourable for issuers out of Russia, making it an excellent time to access international debt capital markets.”
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