Borrowing Seen Flat
- Feb. 25 2013 00:00
- Last edited 20:32
Russia's top lender Sberbank expects its total borrowing program to be around the same this year as in 2012 and could include Eurobonds in Turkish liras, rubles and dollars, a senior executive at the bank said Friday.
"Maybe one will be a subordinated bond in dollars similar in size to the one we did in November," chief financial officer Anton Karamzin told journalists. The bank expects to borrow a smaller amount overall in dollars in 2013 than it did last year.
In 2012 it raised around $4.7 billion in dollar-denominated debt, Karamzin said.
Sberbank hired banks to arrange meetings with investors to test market interest towards possible Eurobond issue denominated in Turkish liras, a banking source told Reuters this week.