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Russia's VTB may spend $0.5-$1 bln to buy back Eurobonds in Q1-VP
January 26, 2016 / 10:38 AM / 2 years ago

Russia's VTB may spend $0.5-$1 bln to buy back Eurobonds in Q1-VP

MOSCOW, Jan 26 (Reuters) - VTB, Russia’s No.2 bank, may spend between $500 million and $1 billion to buy back some of its Eurobonds from the market in the first quarter of this year, the bank’s vice-president Dmitry Alexeyev told Reuters.

The state-controlled VTB bought back some of its Eurobonds from the market last year, spending a total of around $1.7 billion.

“We are looking at the same currencies as last year: the U.S. dollar, Swiss franc, Australian dollar,” Alexeyev said. He added that the bank plans to use its spare foreign exchange liquidity to buy back the bonds, but did not give the total amount the bank has at its disposal.

Alexeyev also said that VTB has to pay off $2.5 billion in debt this year, including $2 billion in syndicated loan. He said the bank planned to use its own funds. (Reporting by Katya Golubkova and Oksana Kobzeva; Editing by Christian Lowe)

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