Most Investors in Cyprus Eurobond Came From Europe: VTB Capital
About 200 accounts were in Cyprus Eurobond book, Andrey Solovyev, global DCM head at VTB Capital, a co-organizer on deal, says in phone interview.
About 80% of bidders from Europe, more than half from UK, roughly 10-15% from the U.S.; final allocation to be decided. Majority were asset managers. Cyprus Eurobond book was 2.5 times oversubscribed. Didn’t do a roadshow, received enough demand.
“The market has a very short memory and all the woes had quickly disappeared” by the time the sale started. VTB Capital is looking at other deals in Cyprus, starting talks with corporates.