Russian Standard Bank discussing ECP issue with investors - sources
MOSCOW. Oct 24 (Interfax) - Russian Standard Bank will hold a conference call with investors on October 25 in order to discuss the option of placing eurocommerical papers (ECPs), a source in financial circles told Interfax.
The organizers of the conference call are UBS and VTB Capital
Another source on the financial markets confirmed to Interfax that Russian Standard Bank plans to place short-term debt papers.
The parameters of the possible issue still have not been made clear to Interfax.
Russian Standard Bank is the third Russian issuer, which has given attention to this borrowing instrument.
The first Russian company to show interest in this instrument was Gazprom , which held a roadshow for a six-month ECP issue. After a slight pause, which resulted from instability on the markets, the Russian gas giant initially placed $200 million in ECPs and later, an additional $300 million.
Furthermore, Russian diamond monopoly Alrosa held a roadshow for an ECP issue last week. Several sources told Interfax that Alrosa is deciding how to place these papers, in a six-month issue or a year-long one. The total issue will come to around $400 million.
Russian Standard Bank was 31st biggest bank in Russia by assets at the end of the third quarter of 2011 according to the Interfax-100, compiled by the Interfax Center for Economic Analysis.