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Fitch: Sberbank eurobonds BBB
Fitch Ratings said it assigned a long-term rating of BBB to SB Capital SA's CHF 325 million issue of senior eurobonds.
The issue has a maturity date of Sept. 14, 2015 and a coupon rate of 3.1%.
The notes are being used to finance senior unsecured loans to Sberbank of Russia, which has BBB and F3 ratings with a stable outlook.
The notes have been issued under Sberbank's $10 billion loan participation notes program.
The obligations under the notes rank equally with the claims of other senior unsecured creditors, except the claims of retail depositors, Fitch said.
Under Russian law, the claims of retail depositors rank above those of other senior unsecured creditors, the agency said.
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