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Promsvyazbank adds $200 mln to subordinated Eurobond-source
February 15, 2013 / 11:12 AM / 5 years ago

Promsvyazbank adds $200 mln to subordinated Eurobond-source

MOSCOW, Feb 15 (Reuters) - Promsvyazbank, a mid-sized Russian lender, added $200 million to its outstanding subordinated Eurobond issue maturing in 2019, a banking source told Reuters on Friday.

The final yield was set at 9 percent, the source said, at the lower end of initial price guidance of 9.00-9.25 percent.

Promsvyazbank, controlled by brothers Alexei and Dmitry Ananyev, placed a seven-year subordinated Eurobond issue worth $400 million with a 10.20 percent yield in October.

The deal, which helps to boost the lender’s capital adequacy ratio, emerged after Promsvyazbank postponed an initial public offering last year. (Reporting by Oksana Kobzeva; Writing by Katya Golubkova; Editing by Douglas Busvine)

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