17 Sep 2010 19:15

Sberbank placing $1 bln in Eurobonds maturing 2017 at 5.4% - source

MOSCOW. Sept 17 (Interfax) - Sberbank is placing $1 billion in Eurobonds maturing in March 2017 at 5.4% p.a., a banking sector source told Interfax.

The placement was rounded of on Friday.

Official yield guidance was 5.4%-5.5%.

Sberbank held a road show this week. It was reported earlier the bank will meet with investors in Singapore, Hong Kong and London.

Barclays Capital, BNP Paribas and ING were mandated to organize the road show.

Sberbank placed $1 billion in Eurobonds at the start of July with a 5.499% coupon. DZ Bank, J.P.Morgan and Royal Bank of Scotland were the issue's organizers. The placement was held according to Reg S. Sberbank's SPV company, SB Capital S.A., issued the Eurobonds, which are slated for maturation on July 7, 2015. The issue's yield corresponding to a spread of 345 basis points against average market swaps. The bank placed $500 million in additional Eurobonds (for an issue initially released at the start of July) at the end of July with yield at 5.15%.