(Adds quote from source, detail)
MOSCOW, June 11 Russia's largest lender Sberbank
is looking to raise up to 1 billion euros ($1.36
billion) in a five-year Eurobond issue, a banking source told
"The bank is going to try to raise 1 billion euros for five
years and will test investors' interest whether such a deal is
possible," the source said, adding that the bank would soon meet
investors to discuss the issue.
Sberbank declined to comment.
A source close to the bank told the RIA news agency that
Sberbank had appointed several European investment banks to
arrange the issue. It was not immediately clear which banks had
The cost of borrowing for Russian firms has risen sharply
due to the Ukraine crisis, with many investors shunning Russian
assets after the West imposed sanctions on Russian companies and
But there have been signs of easing in the worst conflict
between Moscow and the West, with local markets and the rouble
recovering to levels seen before Russia's annexation of
Ukraine's Crimea in March.
Last week, Russia's largest private lender Alfa Bank issued
the first corporate Eurobond after the crisis, selling the
three-year 350-million euro paper at an yield of 5.50 percent.
($1 = 34.3645 Russian Rubles)
(Reporting by Elena Orekhova; Writing by Alexander Winning;
Editing by Mark Trevelyan and Louise Heavens)