OREANDA-NEWS. February 03, 2010. State Corporation `Bank for Development and Foreign Economic Affairs (Vnesheconombank)` is continuing its work to prepare documentation on the arrangement of Eurobond issue under the program of issuing Medium Term Notes (MTN).

On the results of the market search for Eurobond issue arrangers Vnesheconombank’s Board approved the following banks as debut issue arrangers (bookrunners) Barclays Capital, Citi Bank, HSBC, Societe Generale, joint arrangers ING bank, VTB Capital, Troika Dialog.

The extent of arrangers’ involvement in financing of Bank’s current projects as well as their expertise in capital markets were the main factors taken into account during the selection procedure.

Parameters of the program and the first tranche including the amount and cost terms of the bond issue and the format of Eurobond issue are to be determined with arrangers in the course of joint preparation taking into account market conditions as of the date of bond placement. The date of the first tranche placement is still being determined.

Funds to be raised by Vnesheconombank will be used to finance the Bank’s current lending and investment activities.