LONDON, June 3 (IFR) - Russia’s ABH Financial, the holding company of Alfa-Bank, has opened books on a three-year euro-denominated bond at a yield of high 5%, according to a lead.
The size of the bond will be sub-benchmark, said the banker, who added that the deal could price on Wednesday.
ABH Financial is rated BB- by both Standard & Poor’s and Fitch. Alfa-Bank, Commerzbank and UBS are the lead managers.
The bond would be first in the public markets by a Russian issuer since late February, when the crisis with Ukraine brought debt supply to a standstill.
Reporting by Sudip Roy, editing by Julian Baker