The bank earlier said the loan would be raised in two tranches with maturities in three years and 18 months and would be used for general corporate purposes.
The three-year loan will carry interest of LIBOR plus 0.65% and the 18-month facility will be LIBOR plus 0.60%.
"The original sum was increased by $400 million," the bank said on its website.
VTB said it had mandated 10 banks, including the Bank of Tokyo-Mitsubishi UFJ, Barclays Capital (an investment division of Barclays Bank PLC), BNP Paribas, and Citibank to arrange the loan.
The three-year tranche will be provided by the organizers, while other banks and financial institutions will only give an 18-month tranche, VTB said.
VTB said earlier on Monday it plans to issue over $1 billion worth of Eurobonds in the fall.
"If market conditions are favorable in the fall, we will be certain to launch the placement," Nikolai Tsekhomsky, the state-controlled bank's financial director, said.
State-controlled VTB Bank and its subsidiaries comprise VTB Group, which provides banking services and products in Russia, the former Soviet republics, Western Europe, Asia and Africa. The group's assets stood at $92.6 billion as of January 1.
VTB's shares are traded on the Russian Trading System and MICEX stock exchanges, and also on the London Stock Exchange in the form of Global Depositary Receipts (GDRs).
