9 Dec 2009 12:33

VTB 24 plans to start placement of 15 bln rubles in mortgage-backed bonds on Dec 16

MOSCOW. Dec 9 (Interfax) - VTB 24 Bank plans to place 15 billion rubles in home loan-backed loans (1-IP) on December 16 with an option for preterm buyback, the bank said in a statement.

The bank will place 15 billion bonds on the MICEX at a face value of 1,000 rubles each. The bonds will mature over five years and feature 20 quarterly coupons.

A source at VTB Capital, which is the placement's organizer, said that the bank had opened the bid book for the bonds at the start of December.

The bid book will be closed on December 16, which will be followed by the bonds' placement several days later.

The coupon guidance on the issue comes to 9.7%-10.1% including a two-year offer.

This is VTB 24's first independent placement of home loan-backed bonds without an outside structure.

VTB 25 was sixth largest Russian bank by assets in the Interfax-100 rating for the third quarter of 2009, compiled by the Interfax Center for Economic Analysis (CEA).