VTB reopened the Swiss market for Russian credits post-Ukraine crisis with a gutsy Tier 2 deal that saw good demand from mainly private banks. Russia's second biggest bank priced a SFr350m 10.25-year non-call 5.25 subordinated bond on Thursday, raising SFr150m more than the initial minimum amount it was targeting. The bond followed meetings with investors organised by Credit Suisse, UBS and VTB Capital in Switzerland on July 1 and 2 in Zurich and Geneva. They were described as well-attended with around 100 investors showing.
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