Sovcombank out for subordinated bond
Sovcombank was in the market on Monday morning with a subordinated bond, just 10 days after the issuer’s credit rating was upgraded by two major ratings agencies.
Sovcombank, one of Russia’s largest privately owned banks, is looking for $300m-$400m of tier 2 paper. The bond matures in April 2030 and is callable in April 2025.Citi, JP Morgan and UBS are global coordinators, joined by Gazprombank, Renaissance Capital, Sberbank and VTB ...
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