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Demand for pre-sanctions Sberbank Eurobonds totaled $400 mln — source

January 17, 0:07 UTC+3 MOSCOW

VTB started the secondary offering of Sberbank Eurobonds mature in 2019 in the amount up to $350 mln

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© Maxim Shemetov/TASS

MOSCOW, January 16. /TASS/. Investors presented bids for Sberbank Eurobonds offered by VTB in the amount of $400 mln in total, a source on the financial market told TASS on Tuesday.

VTB started the secondary offering of Sberbank Eurobonds mature in 2019 in the amount up to $350 mln.

"The demand was $400 mln. The book is closed," the source told TASS.

The lowest price for securities was 101% of the par value. VTB Capital acted as the arranger of the secondary offering on behalf of VTB.

"Bids with the price above 100.75% of the par value will be met in full. The ones at the level of 100.75% - as 58% from the total amount of the investor’s bid," the source said.

These Eurobonds of Sberbank were floated in early March 2014, before Western sanctions against the bank. Securities will be mature on March 6, 2019.

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