14th Nov 2008 15:17
November 14, 2008 г.
VTB optimizes structure of its debt profile
Press Release
On November 13, 2008, VTB agreed with Noteholders to extend the maturity of its Series 3 Rub 30 billion Notes due 28 November 2008, issued by VTB Capital S.A. under its Programme for the Issuance of Loan Participation Notes #2 (the "Series 3 Notes"), by four years to 28 November 2012.
In particular, with effect from 13 November 2008, the Maturity Date of the Notes is extended to 28 November 2012 and, subject to an annual interest rate reset mechanism, with effect from 28 November 2008, the Rate of Interest in respect of the Notes will be 12 per cent. per annum. In addition, the Notes are now subject to a Put Option at the option of Noteholders on November 28 every year.
This amendment to the terms of the Series 3 Notes helps VTB in optimizing the structure of its debt profile, which will assist VTB in maintaining its financial support of the key sectors of the Russian economy.
VTB Group is a leading Russian financial group with a strong history tradition in Russia and the CIS, and a presence in 17 countries around the world. The Russian Government is VTB's majority shareholder, with a 77.5% holding. The remaining 22.5% of the shares are traded on the RTS and MICEX in Russia, and VTB's global depositary receipts are traded on the London Stock Exchange. VTB offers a wide range of services in corporate, retail and investment banking in Russia, some other CIS states and a number of countries in Western Europe, Asia and Africa. As of 1 July 2008, VTB was the second largest financial group in Russia by assets (USD 108.8 bln.) and by customer accounts (USD 44.6 bln.). VTB Group is among the top three national retail banks with a network of 1001 outlets in Russia and the CIS. In 2008, VTB launched its Investment Banking business, which operates from Moscow, London and Singapore offices.
For more information visit our website www.vtb.ru
This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of VTB or any of its subsidiaries, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of VTB or any of its subsidiaries.
Information contained in this document is not an offer, or an invitation to make offers, sell, purchase, exchange or transfer any securities in Russia or to or for the benefit of any Russian person or any person in Russia, and does not constitute an advertisement of any securities in Russia.
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