Baker & McKenzie has advised Vneshprombank on its debut Eurobond offering of USD 200 million 9% bonds due in 2016 and a tap offering of USD 25 million. Listed on the Irish Stock Exchange, these Eurobonds will be used to diversify the bank’s funding sources and for general corporate purposes.
The book was subscribed by investors from Europe, Asia, and Russia following a roadshow in Moscow, Zurich, Geneva, Frankfurt, and London.
Vladislav Sitnikov, Vneshprombank’s vice president, was pleased with the result. “In our opinion this LPN issue will allow us not only to diversify sources of funding, but also to accumulate experience in a new segment of the financial market. We are confident that this project is only the first step in increasing awareness of the bank on the international stage.”
Baker & McKenzie’s team was led by Roy Pearce with support from Associates Dmitry Dembich and Maxim Khrapov in Moscow.