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Vnesheconombank to place 10-year bonds
RBC, 29.07.2010, Moscow 10:54:31.Vnesheconombank's (VEB) Supervisory Board approved the issue of 10-year ruble bonds for a total of RUB 190bn (approx. USD 58.64bn), the bank's chief Vladimir Dmitriyev announced on Wednesday. He indicated that the first flotation of bonds was likely to take place this fall. "The approval of the issue means that we will place this number of bonds on the market," he explained, adding that the size of the first flotation would hinge on Vnesheconombank's demands at the time of the flotation. Dmitriyev also stated that the bank had no supplemental sources for financing the approved projects, except for borrowings and asset contributions. At the same time, he noted that VEB currently required nearly RUB 500bn (approx. USD 16.55bn) to co-finance investment projects and implement certain programs.
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