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    Uralvneshtorgbank places $110 million credit-linked notes

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    MOSCOW, September 25 (RIA Novosti) -- Uralvneshtorgbank (UVTB) has placed one-year credit-linked notes worth a total of $110 million at an annual interest rate of 9%, the bank said in a news release Monday.

    "Demand for the issue substantially exceeded supply, reaching $210 million," the bank said, adding that it was decided to increase the CLN issue from the original $70 million to $110 million.

    More than 50 investors took part in the placement, including from Switzerland, the U.K., Germany, Luxembourg, Hungary, Chile, the Baltic States, and Russia.

    "Foreign investors account for over 85% of the issue placed," the bank said.

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