Sberbank could place 10-yr notes at 265 bp over swaps - source
MOSCOW. June 9 (Interfax) - Sberbank has lowered the spread at which it could place ten-year Eurobonds to 265 basis points above mid-market swaps, down from 270 b.p. earlier in the day, a financial market source told Interfax.
Ten-year mid-market swaps are currently 3.062%, so the Sberbank notes could yield 5.712%.
The bid book for what is a benchmark issue in US dollars could close today.
Deutsche Bank, HSBC, JP Morgan and the Royal Bank of Scotland are the joint lead managers and bookrunners for the planned issue.
Deputy CEO Bella Zlatkis said at the end of May that Sberbank might place $1 billion-$1.5 billion in Eurobonds in early summer.
Late last year Zlatkis said the bank would borrow $2 billion-$4 billion on foreign markets in 2011.
RTS$#&: SBER