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Sberbank to test Russian bank capital appetite 

February 10, 2014
Sudip Roy, IFR

Sberbank is poised to become the first emerging market bank to sell Tier 2 bonds in the dollar market in 2014, which bankers say will be an interesting test of investor appetite for EM debt following recent jitters.

As well as providing a gauge on investor sentiment for subordinated bank debt, the deal will give a picture of how well they have got to grips with a tweak made to Russia’s Basel III standards.

The country’s biggest bank begins a roadshow on Monday for three days of meetings with investors in Europe and the US. Sources speculate Sberbank may issue a 10-year bond, possibly with a call option after year five.

Read more: IFR

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