Gazprombank Follows Sberbank With 1 Billion Euro Bond Sale - Bloomberg:
"OAO Gazprombank is selling euro-denominated bonds today, becoming the second Russian issuer to tap markets for a benchmark-sized Eurobond since President Vladimir Putin’s annexation of Crimea.
The Moscow-based lender plans to issue 1 billion euros ($1.4 billion) in five-year securities at a yield of 4 percent, according to a person familiar with the deal, who asked not to be identified because they are not authorized to speak about it. That’s down from an initial guidance of about 4.375 percent, the person said.
“This is still attractive for a five-year euro paper,” Sergey Dergachev, a senior portfolio manager who helps oversee about $10 billion in emerging-market debt at Union Investment Privatfonds GmbH in Frankfurt, said by e-mail. Dergachev said he participated in the offering."
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