Russia's Sberbank in the wings with $1 billion deal via JPMorgan, RBS

By Paul A. Harris

St. Louis, June 2 - Capital markets volatility sidelined Russia's Sberbank, which was expected to bring a $1 billion five-year deal to market in mid-May.

However the wait may soon be over, according to a market source, who noted that cash, which is building up on the buyside because of ongoing amortizations and coupon payments, will bring this and other deals into play during early June, given a modicum of stability in the markets.

JPMorgan and RBS have the mandate for the offering, the source said.

Sberbank is a Moscow-based lender.

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