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Russia's Sberbank talks benchmark 10-year notes at mid-swaps plus 212.5 bps
By Paul A. Harris
St. Louis, Feb. 3 - Russia's Sberbank issued price talk on its benchmark-sized offering of 10-year lower tier two loan participation notes (Baa3/BB+) at mid-swaps plus 212.5 basis points, according to market sources.
The notes will be non-callable for five years.
UBS Investment Bank has the books for the Regulation S offering.
The notes come with a coupon step-up after five years.
The issuer is Russia's largest state-controlled bank.
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