Star-studded cast of Russian banks join bond circus

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Star-studded cast of Russian banks join bond circus

June 18, 2008 12:00 am

Russian banks are storming into the bond market. After Transcreditbank priced its $350m three year on Monday, Gazprombank is today finishing roadshows for a dollar benchmark. Sberbank has set price guidance on a five year benchmark at 200bp-210bp over mid-swaps, while VTB is tapping the euro market with a three year benchmark. Price guidance is 300bp area over mid-swaps. Alfa Bank has also set price talk on its dollar benchmark 144A five year put three at 9%-9.25%. How will investors cope with this onslaught of supply? Read EuroWeek on Friday to find out.

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