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Bank VTB PAO (VTBRq.L)

VTBRq.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Russia's Rushydro, VTB sign deal to recapitalise Rushydro by $945 million
Tuesday, 7 Mar 2017 03:02am EST 

Russia's Rushydro says : Rushydro and VTB sign deal to recapitalise Rushydro by 55 billion roubles ($945 million); . Rushydro to issue shares worth 40 billion roubles and sell treasury shares worth 15 billion roubles to VTB. The bank will get around 13 percent of Rushydro's shares; Further company coverage: [HYDR.MM] ($1 = 58.1864 roubles) (Reporting By Moscow Newsroom) ((Moscow.Newsroom@thomsonreuters.com;)).  Full Article

RusHydro and VTB Bank delay RUB 55 bln contract due to "technical reasons"
Tuesday, 7 Feb 2017 06:13am EST 

:. RusHydro and VTB Bank have postponed signing of forward contract for 55 billion roubles ($925.1 million) deal due to "technical reasons" .. On Tuesday RusHydro planned to sign forward contract with VTB to refinance debt of RAO ES of East ; deal has already been discussed for several years .. Signing of contract was scheduled at 10.00 MSK, however after 20 minutes of delay organizers say it is postponed due to "technical reasons" .. RusHydro and VTB press services say a new date will be scheduled later, while all agreements for the transaction are valid For further company coverage [HYDR.MM], [VTBR.MM] For the story in Russian, click [nL5N1FS2PZ] ($1 = 59.4525 roubles) ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;)).  Full Article

Russia's TMK launches secondary share offering
Wednesday, 1 Feb 2017 12:16am EST 

TMK (Trubnaya Metallurgicheskaya Kompaniya) : Announces the launch of a fully-marketed secondary public offering of up to 138,888,888 existing ordinary shares of the company by its wholly owned subsidiary Rockarrow Investments Limited; . TMK shares to be offered in the price range of 74.5 roubles ($1.24) to market price, bookrunner says; . The offering represents around 13.44 percent of TMK shares. . Net proceeds from the offering will be used to purchase 138,888,888 ordinary shares of the company from VTB . .Credit Suisse Securities (Europe) Limited, Morgan Stanley & Co. International plc and VTB Capital are acting as joint global coordinators and together with Aton LLC as joint bookrunners in connection with the offering..  Full Article

Russia's TMK launches secondary share offering
Tuesday, 31 Jan 2017 02:06pm EST 

TMK (Trubnaya Metallurgicheskaya Kompaniya) : Announces the launch of a fully-marketed secondary public offering of up to 138,888,888 existing ordinary shares of the company by its wholly owned subsidiary Rockarrow Investments Limited; . TMK shares to be offered in the price range of 74.5 roubles ($1.24) to market price, bookrunner says; . The offering represents around 13.44 percent of TMK shares. . Net proceeds from the offering will be used to purchase 138,888,888 ordinary shares of the company from VTB . .Credit Suisse Securities (Europe) Limited, Morgan Stanley & Co. International plc and VTB Capital are acting as joint global coordinators and together with Aton LLC as joint bookrunners in connection with the offering..  Full Article

Russia's Polyus says Sukhoi Log is a unique asset
Thursday, 26 Jan 2017 06:48am EST 

Russia's largest gold producer Polyus said on Thursday, after its joint venture with Rostec won a state auction to develop the Sukhoi Log gold deposit: It believes the Sukhoi Log deposit is a unique asset, which perfectly fits Polyus portfolio of large-scale open-pit operations; . Polyus expects to acquire a 23.9 percent stake in the joint venture from Rostec after obtaining the license for $141 million, paid in instalments over the next five years; . Taking into account the fact that the Sukhoi Log and Verninskoye deposits' ores have similar mineral and chemical composition, Polyus will evaluate the applicability of the processing solutions implemented at Verninskoye to the Sukhoi Log deposit; . Polyus expects a formal announcement of the auction results to be released by officials by the end of February, it may then take up to three months or potentially longer for Russia to issue the license for Sukhoi Log to the joint venture. Further company coverage: [PLZL.MM] (Reporting by Moscow Newsroom) ((Polina.Devitt@thomsonreuters.com;)).  Full Article

Russia's Mechel agrees with VTB to postpone debt repayment to 2022
Monday, 26 Dec 2016 02:26am EST 

Mechel says: Agrees to postpone debt repayment with VTB until April 2022. . Deal is part of debt restructuring programme with major creditors. Further company coverage: [MTLR.MM] (Reporting By Moscow Newsroom) ((Moscow.Newsroom@thomsonreuters.com)).  Full Article

RusHydro sees 2020 EBITDA of RUB 133 bln - presentation
Thursday, 8 Dec 2016 03:30am EST 

RusHydro : Sees 2020 EBITDA of 133 billion roubles ($2.10 billion)versus 73 billion roubles in 2015 - presentation . Expects to generate positive free cash flow as of 2018 - presentation . VTB is expected to receive about 13 percent stake in RusHydro as a result of its recapitalisation, compared to previous estimation of about 14 percent - presentation Further company coverage: [HYDR.MM] ($1 = 63.4150 roubles) (Reporting by Anastasia Lyrchikova, translated by Gdynia Newsroom) ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;)).  Full Article

Petropavlovsk agrees debt refinancing with Sberbank, VTB
Wednesday, 30 Nov 2016 03:01am EST 

Russian miner Petropavlovsk Plc says: Has received approvals for the refinancing of its entire bank debt totalling $529.8 million with the lending banks, Sberbank (75 percent of total bank debt) and VTB (25 percent of total bank debt); . Terms are subject to final documentation and completion of conditions precedent; . The approved terms include a revised maturity profile from May 2018 to September 2022 (inclusive of option to extend the 2019 maturity payment to 2022 upon certain conditions being satisfied) and effective average interest rate of 8 percent; . The extended maturity profile of borrowings is now successfully aligned with Petropavlovsk's production profile, expected cash generation and growth capital expenditure plans; . The lenders have agreed the schedule supporting the company's development of the Pressure Oxidation Project (POX Hub); . The proposed refinancing allows Petropavlovsk to self-fund the POX Hub out of free cash flow; . Petropavlovsk is no longer pursuing the proposed joint-venture process with GMD Gold but remains in constructive discussions with it whether an alternative agreement can be reached;.  Full Article

Rushydro recapitalisation to be carried out by end of Jan. 2017 - chairman
Tuesday, 22 Nov 2016 04:00am EST 

: Deal on Rushydro recapitalisation is to be carried out by end of Jan. 2017 - Rushydro chairman and Russia's deputy prime minister Yuri Trutnev said . Rushydro recapitalisation assumes additional share issue for 40 billion roubles ($627.95 million) and sale of treasury shares for another 15 billion roubles - Trutnev . As a result of recapitalisation, VTB can get 14 percent stake in Rushydro [nFWN1DH0P4] . The sale of treasury stake to VTB cancels plan to sell this stake to Japanese companies, with which Rushydro was in talks earlier Further company coverage: [HYDR.MM] [VTBR.MM} ($1 = 63.6997 roubles) (Reporting by Anastasia Lyrchikova in Moscow, translated by Gdynia Newsroom) ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;)).  Full Article

BRIEF-Russia's Polyus to issue secondary share placement in 2017 -sources
Friday, 14 Oct 2016 12:14pm EDT 

Corrects headline to 'in 2017', not 'by 2017', no changes to text.Three financial market sources told Reuters: Secondary share placement by Russia's largest gold producer Polyus is expected in 2017; . Credit Suisse , Goldman Sachs , JP Morgan , Sberbank CIB and VTB Capital are among the banks selected to arrange the offering; . Polyus declined to comment. Further company coverage: [PLZL.MM] (Reporting by Moscow Newsroom; Editing by Adrian Croft) ((jack.stubbs@thomsonreuters.com; +44 2075 427 477; Reuters Messaging: jack.stubbs.thomsonreuters.com@thomsonreuters.net)) Keywords: (CORRECTED).  Full Article

More From Around the Web

Russia's VTB CEO says key interest rate could be cut by 0.25-0.50 ppts

MOSCOW, March 16 VTB Bank Chief Executive Andrei Kostin on Thursday said he thought there was scope for rate cuts in Russia and that the key rate, now at 10 percent, could be cut by 0.25-0.50 percentage points.