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Euromoney magazine has named each of the two deals jointly placed by VTB Capital – VTB Bank's perpetual Tier 1 Eurobond and Brunswick Rail's debut Eurobond offerings – as "Deal of the Year" in Central and Eastern Europe and CIS.
In July 2012, VTB Capital acted as Joint Lead Manager and Bookrunner of the debut USD 1 billion Perpetual Eurobond issue for VTB Bank, which allowed it to raise Tier 1 capital at 9.5% for the first 10.5 years. The issue was tapped in November for another USD 1.25 billion and the total output has reached USD 2.25 billion.
In November 2012, VTB Capital acted as Joint Lead Manager and Bookrunner of the debut five-year USD 600 million for Brunswick Rail, Russia's leading private freight railcar operating lessor. The transaction received very favorable investor response with the orderbook being oversubscribed nearly 5 times and the yield set at 6.5%.
Andrey Solovyev, Global Head of DCM at VTB Capital, said, "VTB Capital continues to hold a strong position in debt capital markets in Russia and abroad. Placing Tier 1 capital – qualifying perpetual Eurobonds for VTB Bank is a first for the Russian banking sector. Investors showed significant interest in Brunswick Rail’s Eurobond placement, which allowed the transaction to be priced at very attractive levels compared to larger companies with the same credit rating. Demand for both issues was significantly oversubscribed, allowing us to place Eurobonds at lower price parameters than originally announced."
VTB Capital also took the #1 position in the Dealogic 2012 DCM Bookrunner league table for Central and Eastern Europe with 103 local and international debt placements worth a total of USD 18.74 billion. The bank’s market share in the region is 11.5%.
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