Sovcombank goes for rare social bond

Sovcombank, one of Russia's largest private banks, this week raised its debut social bond — still a rare format among emerging markets borrowers in the Europe, Middle East and Africa region. The bond follows an ESG loan the bank raised just weeks ago.
The Reg S/144A $300m social bond will mature in January 2025.
The coupon was set at 3.4% and a spread at re-offer of 301.6bp over mid-swaps. That tightened from price guidance on Tuesday afternoon of 3.625%, which itself had tightened from initial price thoughts of 3.75-3.875%. Final order ...Already a subscriber? Login