Sberbank’s one-two punch re-opens Russian market
Russia’s state owned savings bank Sberbank managed to hit up the market for an additional $250m late on Thursday, having already raised $1.5bn through a dual participation note on Tuesday.
The tight pricing achieved on the initial deal, along with the strength of demand for the subsequent tap, came as a surprise for some Russian corporate and bank issuers. It also paved the way for other issuers out of the country as demonstrated by Thursdays opportunistic $750m
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