| 10.02.2012 - You can access the full text of this article on Euroweek website
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EM returns to Swissies as REC, KNOC find warm welcome; Sberbank up next |
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Emerging markets risk returned to the Swiss franc market this week after a blowout year in 2011, as Rural Electrification Corp raised Sfr200m and Korea National Oil Corp Sfr300m.
Indian, Korean and Russian issuers priced blockbuster deals last year, as Swiss investors finally became comfortable with lower-rated credits offering eye-catching coupons. As Swiss yields have fallen since then, investors are even keener to buy lucrative paper.
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Market participants also expect Russia’s Sberbank to issue in Swiss francs shortly. The country’s largest bank, rated A3/BBB by Moody’s and Fitch, met investors on Thursday and Friday in Zurich and Geneva with Credit Suisse, Troika and UBS. Sberbank’s most recent Swiss franc transaction was a Sfr400m 3.5% four year issue in October 2010.
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Issuer, issue number:
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Sberbank, 2014, CHF
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| Type of debt instrument: | Eurobonds |
| Issue status: | outstanding |
| Par, currency of issue: |
CHF, 5000 |
| Amount: | 400 000 000 |
| ISIN: | CH0119190228 |
| End of placement: | Oct 28 2010 |
| Issue price: | 100 |
| Yield at Pricing: | 3.5% |
| Coupon: | 3.50% |
| Coupon frequency: | 1 time(s) per year |
| Settlement Date: | Nov 12 2010 |
| Maturity date: | Nov 12 2014 |
| Issue Managers: | BNP Paribas, UBS |
| Trading floor: |
SIX
Berlin Exchange |
Issuer profile:
Sberbank today is the largest credit institution in Russia, Central and Eastern Europe, accounting for about 30% of the aggregate Russian banking assets. Central Bank of Russia owns over 60% of Sberbank’s ordinary shares, being Sberbank’s controlling shareholder. The remaining shares are held by more than 260,000 institutional and private investors. Sberbank has the largest countrywide branch network with 17 regional head offices and more than 20,000 retail outlets and inner structural departments as well as subsidiary banks in Kazakhstan, Ukraine and Belarus.
General license of Bank of Russia for banking operations - 1481.
Outstanding issues:
7 issue(s) outstanding worth USD 6 500 000 000
2 issue(s) outstanding worth CHF 810 000 000
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