LONDON, June 4 (IFR) - Russia’s ABH Financial, the holding company of Alfa-Bank, has revised yield guidance to 5.625% area on a three-year euro-denominated bond, according to a lead.
The size of the bond, which will price later on Wednesday, will be sub-benchmark.
In this context the deal is well subscribed, reflecting interest from a broad range of investors in the UK and Europe, said a note from a lead manager
The company, rated BB- by Standard & Poor’s and BB+ by Fitch, opened books on Tuesday at an initial yield of high 5%.
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 Abhinav Ramnarayan; editing by Sudip Roy