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Comment by Andrey Solovyev, Global Head of DCM at VTB Capital, for Bloomberg

24 October 2017

VTB Capital’s Solovyev Sees Russian Bond Sales Growing in 2018

High redemption volumes, replacement of loans with Eurobonds will boost placements, Andrey Solovyev, head of debt capital markets at VTB Capital, tells reporters in Moscow.

∙               Some borrowers will place debt to fund capex

∙               VTB expects several major deals before the end of the year on the Eurobond market

∙               About $23 billion placed in 2017, a “turnaround” year

∙               Market unlikely to return to deal volumes seen in 2012-2013 due to sanctions

∙               VTB Capital expects ruble Eurobond sales from quasi- sovereign issuers

∙               Investors are wary of banks, subordinated bank bonds won’t be in demand

VTB Capital

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