Alfa Bank not planning to borrow now, may later or next year
MOSCOW. Sept 8 (Interfax) - Alfa Bank is not at this time planning to enter the borrowing market, but will look at the possibility of raising debt capital at end-2011 or next year, the bank's deputy CEO and CFO Andrew Baxter said during a conference call on Thursday.
Alfa Bank will think about it if it sees significant balance sheet growth and revitalization on capital markets, Baxter said. But that would most likely happen at the end of the year, not now, he said. Entering the market now is undesirable, he added.
Alfa Bank is most likely to borrow in 2012, he said.
The bank placed ten-year Eurobonds totaling $1 billion with a coupon rate of 7.75% per annum this past March, and five billion rubles in five-year bonds with a three-year offer and a pre-offer interest rate of 8.25% per annum. The overall amount of bonds the bank has placed increased 18.4% to $4.9 billion as of June 30, 2011 from $4.1 billion at end-2010.
Alfa Bank ended H1 2011 in 6th place by assets on the Interfax-100 bank-size ranking.