Belagroprombank needs liquidity premium, say investors
Concerns over low secondary market liquidity are leading investors to demand a substantial premium for a $100m three year credit-linked note being marketed by Belagroprombank, the second largest bank in Belarus.
Books will close on Tuesday or Wednesday for the deal, which Royal Bank of Scotland and Troika Dialog are arranging.
Price guidance has been released at a coupon of 9.95%, according to two London based fund managers.
The bank is rated B2/B+/B. Fitch factors in a very high likelihood of
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