Sberbank guides generously, books over €1bn, tightening expected

Sberbank has released initial price thoughts in the mid-to high 200bp over mid-swaps area for a 5.5 year euro denominated bond, offering around a 10bp new issue premium at the tight end and 35bp at the wide according to an investor considering the deal. Tightening is expected before pricing later today. Books are over €1bn.