Russia's Alfa-Bank talks 10-year dollar-denominated subordinated bonds at 8 5/8% area

By Paul A. Harris

St. Louis, Nov. 30 - Alfa Bond Issuance plc, a financing subsidiary of Russia's Alfa-Bank, gave initial guidance in the area of 8 5/8% on its offering of 10-year lower-tier II subordinated bonds, an informed source told Prospect News on Wednesday.

The size of the issue and the pricing date remain to be determined, the source added.

Barclays Capital and UBS are joint bookrunners for the Regulation S offering.

The notes come with five years of call protection and will have a coupon step-up provision that will take effect in year five.

Moody's Investors Service assigns its Ba3 rating to the notes. Standard & Poor's rates the notes B. Fitch rates them B-.

Alfa-Bank, Russia's largest privately owned bank, has headquarters in Moscow.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.