Issuers grab Czech koruna chances as VTB Bank debuts

By Craig McGlashan
17 Oct 2013

Czech investors’ desire to diversify their holdings away from domestic credits is opening up new opportunities for foreign issuers, with some international borrowers opting to print private placements denominated in Czech koruna and others selling directly into the Czech market.

VTB Bank took advantage of the store of cash to become the first Russian credit to print in Czech koruna this week.

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, ...

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