Russia sets guidance on dual-currency five-tranche bond offering
LONDON, Sept 9 (IFR) - The Russian Federation has opened books on a five-part bond offering including euro and US dollar-denominated tranches with maturities ranging between five and thirty years.
The sovereign, rated Baa1/BBB/BBB, has set initial price guidance on the US dollar portion of the sale at 212.5bp area over US Treasuries for a long five-year tenor, and 237.5bp area for both a 10-year and a 30-year tenor.
The issuer has set initial price guidance on the euro-denominated part of the offering at 185bp area over mid-swaps for a seven-year tranche and 195bp area over mid-swaps for a 12-year tranche.
Barclays, Deutsche Bank, Gazprombank, Renaissance Capital, RBS and VTB Capital are joint bookrunners on the 144A/Reg S offering, which is expected to price on Monday. (Reporting by Davide Scigliuzzo; Editing by Anil Mayre)
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