Gazprombank considering possibility of subordinated bonds issue in H2
MOSCOW. Sept 10 (Interfax) - Gazprombank is considering the possibility of a subordinated bonds issue in the second half of this year, the director of the bank's Capital Market Debt Department, Ignat Dirks, told journalists on Monday.
He added that the transaction is currently in the structuring stage.
Alexander Sobol, the deputy chairman of Gazprombank's management board, said that depending on demand on the market and the Central Bank of Russia's regulatory requirements, the bank is looking into how to structure the deal - whether to include the subordinated bonds in first or second tier capital.
Commenting on the bank's overall borrowing plans for the second half, Dirks said that it will be much lower than in the first half. Gazprombank might raise up to 20 billion rubles on the domestic debt market. With regards to Eurobond placements, one issue corresponding in volume to the benchmark issue might be placed in the second half, he said.
On foreign markets, the bank does not rule out the possibility of a Eurobond issue in local Asian currencies and rubles, Dirks said.
