Sberbank to start meeting with investors Oct 16, may place Eurobonds
MOSCOW. Oct 12 (Interfax) - Sberbank of Russia will begin a series of meetings with investors in the United States and Europe on October 16, and may place at least $1 billion worth of Eurobonds.
The lead managers and book-runners are HSBC, JP Morgan, and Sberbank CIB, a financial market source has told Interfax. The co-organizer is UBS Investment Bank.
In the middle of August, Sberbank placed $300 million worth of additional five-year Eurobonds (loan participation notes, or LPN) yielding 3.95% per annum, which corresponds to a price of 104.062% of face value or 310 basis points to average market swap. Total demand following placement amounted to $420 million.
Sberbank placed $1 billion worth of LPN at 4.95% p.a. this past January. The placement organizers were Barclays, BNP Paribas, Citigroup, and Troika Dialog .
In mid-July, the bank placed additional ten-year LPN ($750 million) yielding 5% p.a.