VTB prices $1.5bn five year from $6.5bn book
VTB Bank priced its new $1.5bn five year dollar bond at par with a 6% coupon last night, from a book of $6.5bn — huge demand for a single tranche, compared with other Russian financial institution bonds. Citi, ING and VTB arranged the note.
Its poor grey market trading yesterday was stamped out in the notes initial performance, up in initial trading at 100.25 this morning.
A banker at one of the leads said that although the 10 year part of the curve was considered the sweet spot of the market, VTB
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