Two major rating agencies last week issued ratings on what could be Russia's first public RMBS. Vneshtorgbank (VTB) secured a split BBB+'/'A1' from Fitch Ratings and Moody's Investors Service, respectively, for $74.2 million in A notes, with a 28-year legal final.

Joint leads HSBC and Barclays Capital are expected to hold some low-key investor meetings during Information Management Network's Barcelona conference this week, but the roadshow will start in earnest only after the meeting, said a source close to the deal. Given that the deal is Reg S, the arrangers will focus on European investors, but might also sell to U.S. offshore accounts.

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