VTB Capital took part in the «Opportunities for subfederal and municipal issuers on Moscow Exchange» conference, organized by the Moscow Stock Exchange with the participation of the Ministry of Finance and the Ministry of Economic Development of the Russian Federation. The conference took place between 30th-31st January. Over 100 participants attended the event, including representatives of the Ministry of Finance and the Ministry of Economic Development of the Russian Federation, 43 regional financial authorities and four municipal financial authorities, bookrunners, investment bank analysts and rating agencies. Vladimir Kolychev, Chief Economist at VTB Capital for Russia, participated in a panel discussion about progress made in 2013 and market perspectives. During this session he shared his views on the current market situation, prospects for the Russian economy and steps that regional authorities can take to help credit analysts assess regional ratings, as well as the impact of devaluation on investors’ interests for regional loans and budgets. Anzhelika Tronina, Manager, DCM at VTB Capital, took part in a session focussing on the credit quality of the Russian regions. She discussed the details and procedures of bond issuing documentation and focussed on the mechanisms to improve the current practice of placement as well as highlighting examples of successful transactions conducted by VTB Capital. During the second day of the conference a master class was held for the regions and municipalities which are new to placing bond issues. In his presentation, Anton Romanov, Director, DCM at VTB Capital, looked at the practical issues related to the implementation of the existing legislation. He also spoke about the current infrastructure, offering bonds and VTB Capital’s expertise in solving various problems in the issuance of municipal bonds.
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