Sberbank invites banks to consider new benchmark despite treacherous markets

Russia’s largest bank by assets, Sberbank, has sent international banks a request for proposals for a syndicated loan of up to $2bn. The invitation did not mention the margin it hopes to secure but three bankers said that Sberbank indicated in one-to-one discussions that it wants to set a new benchmark for Russian financial institution pricing.

  • 22 Sep 2011

That would undercut the 130bp headline margin paid by competitors VEB and VTB.

Appetite in the loan market has proved strong this year for the large state-controlled Russian banks.

In July, VTB signed the largest ever loan for a bank in central and eastern Europe. The $3.13bn facility paid ...

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