(Corrects Fitch rating in third paragraph)
By Sudip Roy
LONDON, June 4 (IFR) - ABH Financial, the holding company of Russia’s Alfa-Bank, has set a final yield of 5.50% for a 300-350m three-year bond, according to a lead manager.
That compares with revised guidance of 5.625% area released earlier on Wednesday and initial price thoughts of high 5% announced on Tuesday. The deal is expected to launch and price later today.
ABH Financial is rated BB- by Standard & Poor’s and BB+ by 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 from the country to a standstill.
Reporting by Sudip Roy; editing by Helene Durand