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VTB Group to Raise Over $10bn in 2007
This year, VTB Group will borrow more than in the past year, said Denis Ursulyak, senior vice president at VTB, Interfax reported. 2006 borrowings amounted to $8 billion.
”The figure of roughly $10 billion given earlier as the loans of VTB Group in 2007 corresponds to reality. It is somewhere between the loans to be raised by VTB and the borrowing of the group,” Ursulyak specified.
VTB will be borrowing in different currencies, including Australian dollars and Swiss francs, to diversify the investment base. “In the better part of cases, it will be the bond market,” according to Ursulyak. As to VTB, it will account for around three-fourth of the group’s loans.
Raising foreign loans via VTB, VTB 24 and VTB-Europe would be more preferable, Ursulyak said. “We don’t encourage subsidiaries but for VTB 24 and VTB-Europe to raise public loans,” the official pointed out.
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