VTB North-West decides against call option for LPN
MOSCOW. Aug 23 (Interfax) - VTB North-West Bank has decided not to exercise a call option on an issue of 10-year loan participation notes (LPN) totaling $400 million, the bank said in a statement.
The bank has the option of buying back the bonds effective October 1, 2010.
It placed the LPN in September 2005. RBS, Deutsche Bank and ABN Amro organized the issue.
The paper is listed on the Irish Stock Exchange.
The LPN bear 20 semiannual coupons. The first-tenth coupons pay 6.2% annually and the 10th-20th - 7.7%.
They mature on September 29, 2015.
VTB North-West Bank was the 19th biggest Russian bank by assets according to the Interfax-100 list as of the end of the first half of 2010.
RTS$#&: PCBS, VTBR