RSB goes 150bp wider in renewed $200m T2 quest

Russia Flag
By Francesca Young
10 Jul 2013

Russian Standard Bank has launched a $200m subordinated 10.5 year non-call 5.5 year bond at a yield of 11.5%. That is 150bp wider than its price guidance for a slightly different issue it tried to sell in late May before being blown off course by a US Treasury market sell-off.

The first time it tried to price the new issue, on May 23, it had to pull a 10 year non-call five offer, having released price talk at 10% area yield the day before. That was when Federal Reserve chairman Ben Bernanke said that it could begin reducing quantitative easing this ...

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