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Russia's Alfa Bank considers Eurobond issue this month - sources
October 20, 2015 / 4:12 PM / 2 years ago

Russia's Alfa Bank considers Eurobond issue this month - sources

MOSCOW, Oct 20 (Reuters) - Alfa Bank, one of the largest privately-owned Russian banks, is considering issuing Eurobonds by the end of this month, two sources familiar with the plan told Reuters.

If the plan goes ahead, the bank will be the third Russian issuer this month, as Russian companies return to the international market after a year-long hiatus in major issues.

Investors have been reluctant to invest in Russian bonds because of concerns about geopolitical risks. Several major companies are subject to Western financial sanctions imposed to punish Russia for its involvement in the Ukraine crisis.

However, successful issues earlier this month by gas producer Gazprom and nickel miner Norilsk Nickel have illustrated that investors are once again prepared to invest in Russian issues.

The sources told Reuters that Alfa Bank, which last issued Eurobonds in November 2014, was looking at issuing 3 to 5 year bonds and would take a decision this week. They did not give an amount for the possible issue. (Reporting By Kira Zavyalova and Olga Popova; Writing by Jason Bush; Editing by David Holmes)

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