EDB prints $500m 10 year inside larger peer Sberbank
Eurasian Development Bank has printed a $500m 4.767% 10 year note at a spread of 295bp over mid-swaps, inside where similarly rated but larger comparable Sberbank was trading. The book for the note peaked at $6.25bn, built from over 300 accounts.
BNP Paribas, Citi, HSBC and VTB Capital arranged the deal, which Eurasian Development Bank has been trying to place for several months.
"Unlike some of its comps, EDB can be project-driven," said George Niedringhaus, head of EM syndicate at VTB Capital in London. "That makes them a less frequent
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