Sberbank guides to “fair” level for sub, clarified law makes no difference, say bankers
Sberbank has released price guidance of 5.625% for a 10 year non call five subordinated deal that bankers away from the deal are calling a “fair” level. But market participants on and off the deal say that the clarification of point of non-viability language has made little difference to the pricing of the bond.
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