Russia reduces yield guidance for 10-yr Eurobond tranche to 135 basis against UST
MOSCOW. April 21 (Interfax) - Russia has reduced the yield guidance on its 10-year Eurobond tranche to 135 basis points against US Treasuries form an earlier announced 137.5 basis points, a source on the financial market told Interfax.
The guidance on the five-year tranche remains at 125 basis points against UST.
The Russian Finance Ministry held meetings with bank organizers in San Francisco on Tuesday. The issue's roadshow closes in New York on April 21. The roadshow opened on April 13 and has already passed through Frankfurt, Munich, London, Singapore, Hong Kong, Boston and Los Angeles.
Barclays Capital, Citi, Credit Suisse and VTB Capital are the issue's organizers.
Russia could place around $5 billion in Eurobonds. Following meetings with Asian investors last week, the issue could come out in two tranches with periods totaling 10 and 20 years. At the start of the week, reports surfaced that the tranches would come to five and 10 years, respectively.
Market players have not ruled out that Russia's Eurobonds could come to more $5 billion and come to $7 billion in light of the enormous demand for the first time since 1998.