Published: May 5, 2013
Russian bank attracts Norwegian, Qatari and Azeri sovereign funds in RUB102.5bn equity deal.
VTB Bank has confirmed details of a RUB102.5bn (US$3.2bn) capital increase to be carried out this month.
The bank will issue 2.5trn new shares in a rights issue that will run from May 6 to May 17. Investors including Norway's Norges Bank Investment Management, Qatar Holding and the State Oil Fund of Azerbaijan have made committments to subscribe for the new shares.
The capital raised will increase VTB's Tier 1 capital ratio and total capital ratio to about 11.9% and 16.3%, respectively.
Citigroup and VTB Capital, VTB's investment-banking arm, are acting as joint global coordinators and joint bookrunners. Bank of America Merrill Lynch and JP Morgan are acting as joint lead managers.