VTB Bank took advantage of Czech investors’ hunger for diversification this week to become the first Russian credit to print in Czech koruna. The issuer joins a series of other emerging market names to debut in the currency this year.
Société Générale placed a Ck582m ($30.9m) three year loan participation note for VTB on Tuesday and increased it by Ck18m a day later. Priced at par, it pays a coupon of three month Pribor plus 196bp.
VTB’s Irish subsidiary VTB Eurasia will issue the note and on-lend