Sberbank sets tightest price for Russian Swissie
BNP Paribas and UBS have launched a Swiss franc deal for Sberbank, following last week’s roadshow. The deal is a Sfr200m minimum size four year, with guidance of 244bp-255bp over mid-swaps, or 345bp-355bp yield.
This makes it the longest deal and the tightest price for any Russian issuer in the Swiss franc market, reflecting in part Sberbanks A3/BBB rating. The leads will close the books on Thursday at the latest.
VTB Bank and Bank of Moscow came to the Swiss franc market earlier
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