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

Tuesday, 24 October / Bloomberg

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

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