By Reshmi Basu
New York, April 28 - JSCB Sberbank, via SB Capital SA, sold $500 million seven-year senior loan participation notes (A2//BBB expected) at par to yield mid-swaps plus 98 basis points, according to an informed source.
The deal priced tighter than guidance, which was set at 100 to 105 basis points over mid-swaps.
Barclays Capital and JP Morgan were joint bookrunners for the Regulation S transaction.
Sberbank is a commercial bank based in Moscow.
| Issuer: | JSCB Sberbank
|
| Amount: | $500 million
|
| Issue: | Loan participation notes
|
| Maturity: | May 15, 2013
|
| Coupon: | 6.48%
|
| Issue price: | Par
|
| Yield: | 6.48%
|
| Spread: | Mid-swaps plus 98 basis points
|
| Joint bookrunners: | Barclays Capital, JP Morgan
|
| Pricing date: | April 28
|
| Settlement date: | May 15
|
| Distribution: | Regulation S
|
| Ratings: | Moody's: A2
|
| Fitch: BBB expected
|
| Price guidance: | Mid-swaps plus 100 to 105 basis points
|
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