Promsvyazbank adds $200mn to subordinated Eurobond: source

MOSCOW: Promsvyazbank, a mid-sized Russian lender, added $200 million to its outstanding subordinated Eurobond issue maturing in 2019, a banking source told Reuters on Friday.

The final yield was set at 9 percent, the source said, at the lower end of initial price guidance of 9.00-9.25 percent.

Promsvyazbank, controlled by brothers Alexei and Dmitry Ananyev, placed a seven-year subordinated Eurobond issue worth $400 million with a 10.20 percent yield in October.

The deal, which helps to boost the lender's capital adequacy ratio, emerged after Promsvyazbank postponed an initial public offering last year.