Baker & McKenzie successfully advised Vneshprombank on its offering of USD200 million 9 percent Eurobonds due in 2016 and a tap offering of USD25 million. Listed on the Irish Stock Exchange, these Eurobonds will be used to diversify the bank’s funding sources and for general corporate purposes.

The book was subscribed by investors from Europe, Asia, and Russia following a roadshow in Moscow, Zurich, Geneva, Frankfurt, and London.

“Vneshprombank is completely satisfied with the results and the work of the organizers and legal advisers on its debut Eurobond issue,” said Vladislav Sitnikov, Vneshprombank’s vice president. “In our opinion this LPN issue will allow us not only to diversify sources of funding, but also to accumulate experience in a new segment of the financial market. We are confident that this project is only the first step in increasing awareness of the bank on the international stage.”

Baker & McKenzie’s team was led by Roy Pearce with support from associates Dmitry Dembich and Maxim Khrapov in Moscow.

Established in Moscow in 1995, Vneshprombank is a universal bank that provides its corporate and private clients with a wide range of banking products and services. Over 18 years, the bank has built a solid reputation in the domestic banking market and become one of the top 50 banks in Russia.