Russia's largest bank Sberbank plans to start meeting investors for a subordinated Eurobonds' placement on February 10 , Prime reports citing unnamed market sources. Reportedly BofA Merill Lynch, Credit Suisse , Deutsche Bank , and Sberbank SIB will organise the issue. Previously it was reported that Sberbank started a road-show for subordinated USD-denominated Eurobonds in USA and Asia in May. Sberbank planned to issue USD 2bn worth of subordinated Eurobonds in 2013. In October 2012 , Sberbank placed a debut issue of 10-year subordinated Eurobonds of USD 2bn , at a coupon rate of 5.125% which made a 60bps premium to senior issues, according to Cbonds. Cbonds then noted that average premium and subordinated bonds of other banks is about 70-80bps, concluding that Sberbank's placement was aggressive on a background of high demand.
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