Sberbank, Promsvyazbank kick off Russian FI boom

29 Jun 2010

State owned Russian bank Sberbank and the privately owned Promsvyazbank may be the first of several Russian financial institutions to sell bonds as market conditions improve.

Sberbank has announced intentions to sell a five year, benchmark sized senior dollar bond, while Promsvyazbank is targeting a subordinated debt deal. Meanwhile, the Russian Railways affiliated TransCreditBank is preparing to meet investors.

The A3/-/BBB rated Sberbank was scheduled to hold an investor call at 11.30am London time ...

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