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Russia’s VEB may enter EU debt market in 2017

January 19, 2017 | Prime

Russian state development bank Vnesheconombank (VEB) does not rule out entering the E.U. debt market in 2017 if the Western sanctions are lifted, VEB CEO Sergei Gorkov said in an interview to Rossiya 24 television station broadcast late on Wednesday.

“We do not rule out entering the Chinese market. If the sanctions are lifted, the European market. And the Russian market too, because our July placement of foreign currency bonds was quite successful,” he said.

“We do not rule this out, though we have covered the year of 2017 from the point of view of the balance of liquidity. We are rather comfortable now, but we do not exclude doing it if we have projects or in order to be efficient.”

In July 2016, VEB planned to offer less than U.S. $300 million to the market, but during the bookbuilding it increased the offer to $500 million first and to $600 million after that. Combined demand for the bonds exceeded $1 billion.

Company: VEB

Full company nameState Development Corporation «VEB.RF»
Country of riskRussia
Country of registrationRussia
IndustryBanks

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