MOSCOW, July 26 (Reuters) - Russia’s second largest lender VTB has attracted bids worth $1.5 billion for its perpetual bonds, IFR, a Thomson Reuters news and market analysis service, said on Thursday.
IFR also said that the bonds’ pricing has been left unchanged. Earlier it reported that VTB was guiding investors towards a yield of 9.50-9.75 percent.
Perpetual bonds are permanent interest-only loans, allowing companies to take the capital gained and hold it without having to repay the principal amount - meaning they can, for example, count it towards capital. (Writing by Andrey Ostroukh)