Sberbank Sets Pricing On Five-Year USD Bond In Swaps +3.50 Area

30th Jun 2010 14:46

LONDON (Dow Jones)--OAO Sberbank, (SBER.RS) Russia's largest lender, has set price guidance on its five-year, dollar-denominated benchmark bond in the area of 350 basis points over midswaps, one of the banks running the sale said Wednesday. DZ Bank, JP Morgan and Royal Bank of Scotland Group PLC are joint-lead managers on the deal, which is expected to price within 10 basis points above or below the stated guidance. The lender, rated A3 by Moody's Investor Service Inc. and BBB by Fitch Ratings, hosted a series of investor meetings in Europe from May 10-13, but did not go ahead with the placement due to the volatile market conditions at the time. -By Art Patnaude, Dow Jones Newswires; +44 (0) 207 842 9259; [email protected] (END) Dow Jones Newswires June 30, 2010 09:46 ET (13:46 GMT)