ABH Financial marketing three-year euro bond at yield of high 5%

Tue Jun 3, 2014 7:49am EDT

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LONDON, June 3 (IFR) - Russia's ABH Financial, the holding company of Alfa-Bank, has opened books on a three-year euro-denominated bond at a yield of high 5%, according to a lead.

The size of the bond will be sub-benchmark, said the banker, who added that the deal could price on Wednesday.

ABH Financial is rated BB- by both Standard & Poor's and Fitch. Alfa-Bank, Commerzbank and UBS are the lead managers.

The bond would be first in the public markets by a Russian issuer since late February, when the crisis with Ukraine brought debt supply to a standstill.

(Reporting by Sudip Roy, editing by Julian Baker)

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