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Russia's Sberbank mandates Barclays, JP Morgan for $500 million minimum eurobonds
By Paul A. Harris
St. Louis, March 20 - OAO Sberbank has mandated Barclays Capital and JP Morgan to manage the savings bank's $500 million minimum offering of eurobonds, according to market sources.
The timing of the deal remains to be determined.
Moody's Investors Service assigns its Baa2 foreign currency rating to Sberbank. The Standard & Poor's foreign currency rating for Sberbank is BBB.
In early February 2005 Sberbank priced an $850 million issue of loan participation notes due February 2015 at par to yield 6.23%.
Shortly thereafter Sberbank priced a $150 million tap of that issue also at par, taking the issue size to $1 billion.
Sberbank, Russia's largest state-controlled bank, has headquarters in Moscow.
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