Published: October 22, 2012
Bank raises US$1bn in first UT2 deal from Russia.
Russia’s Gazprombank has issued a US$1bn perpetual bond.
The paper is classed as upper tier 2 (UT2) capital, the first such deal issued publicly out of Russia, and was priced with a yield of 7.875%, tightened from initial guidance of mid-to-high 8%s.
The book closed at more than US$10bn-worth of orders from over 350 investors.
The deal followed a road show across Asia, Europe and the UK. Goldman Sachs acted as sole structuring adviser.