3 Jun 2010 18:34

Promsvyazbank to begin Eurobond road show on June 14

MOSCOW. June 3 (Interfax) - Promsvyazbank will begin a road show for $100 million in five-year Eurobonds on June 14, a source in banking circles told Interfax.

Credit Suisse (SC) and Royal Bank of Scotland (RBS) have received the mandate to organize the road show, another source said.

The Eurobonds should yield about 10.5%.

It was reported earlier that Promsvyazbank placed $200 million in 5.5-year subordinated Eurobonds at 12.75% annually in November 2009. Citi, HSBC and Promsvyazbank organized the issue.

A total of six Eurobond issues maturing in 2010-2018 are currently in circulation. The nearest maturity date is October 2010 (on $200 million in LPN).

Promsvyazbank was the 10th biggest Russian bank by assets according to the Interfax-100 list as of the end of the first quarter of 2010.