Alfa Bank to start road show for ruble Eurobonds April 15 - source
MOSCOW. April 12 (Interfax) - Alfa Bank will kick off the road show for its ruble-denominated Eurobonds on April 15, a financial market source told Interfax.
Citi, HSBC and Alfa Bank itself are the organizers.
The meetings will take place in London and New York.
A source with knowledge of the situation told Interfax back in February that Alfa Bank is considering entering the international debt market and that it has already sent out a request for proposals to investment banks. According to the source, the bank is thinking about issuing both subordinated and traditional Eurobonds.
"It would of course be cheaper for Russian banks to raise ruble liquidity, but the international ruble debt market is already more volatile than the dollar one, and so far only one Russian issuer unrelated to the state, OJSC Vimpelcom , has managed to place ruble bonds. Whether Alfa will manage to as well depends on the market," a source on the financial market previously said.
Alfa Bank last ventured onto the international debt market in September last year when it placed $750 million in seven-year subordinated notes at 7.5% pa. UBS, Credit Suisse and Alfa-Bank itself ran the offering.
Alfa Bank was Russia's seventh largest bank by assets at the end of 2012, according to the Interfax-100 ranking.