Record tenor for Sberbank’s Swiss francs

Sberbank’s Swiss franc deal closed on Thursday, for a final size of Sfr400m ($407m), making it the biggest single-shot Russian deal in 2010. As a four year issue, it also has the longest maturity of any Russian Swiss franc bond in the market. Bookrunners BNP Paribas and UBS priced the deal at 248.5bp over mid-swaps, from guidance of 245bp-255bp, and doubled the size from the launch minimum.