PSB offers to buy back 2016s, 2017s and 2019s
Russia's privately owned bank Promsvyazbank has launched a cash tender for its subordinated $200m 11.75% 2016s, its senior $400m 8.5% 2017s and its subordinated $600m 10.20% 2019s. The move is a show of strength from the bank as well as a routine management of the bank’s own liquidity and capital, said a liability management specialist on the note.
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