VTB Bank revs up Russian bond prospects

VTB Bank on Thursday became the first of the big Russian banks to issue international bonds this year. Although it scrapped a 10 year tranche it had been mulling, the Baa1/BBB/BBB rated bank’s $1.25bn five year issue opened the door for further financial credits from the country. "We should take comfort from the fact that it looks like it’s going well," said a syndicate banker away from the deal.