Moscow: At EMEA Finance’s 2014 Achievement Awards, Sberbank CIB was recognised for its role as Lead Manager on SPP Distribucia’s €500 mln Eurobond in June 2014, which was the company’s inaugural Eurobond transaction in the CEE region.
The deal was particularly notable for a number of reasons: it diversified SPP Distribucia’s investor base and launched a new high-quality credit to strong demand from fixed income market participants.
Oleg Ganeev, Deputy Chairman of the Executive Board of Sberbank of Russia, Head of Sberbank CIB, said, “This award is yet another demonstration of Sberbank CIB’s unrivalled expertise in the regional debt capital markets. To have achieved such positive investor feedback and a robust credit rating on the company’s debut Eurobond issuance is indicative of the team’s specialised market knowledge and strong execution capabilities. This allows Sberbank CIB to meet its clients’ complex debt requirements by providing bespoke advice and delivering optimal financial solutions.”
The issuance received a credit rating (‘A’) from Fitch that was one notch higher than the overall corporate rating, reflecting expectations of above-average recoveries by regulated network utilities in developed markets. The transaction was smoothly executed intraday, with strong investor feedback enabling the deal to launch with a coupon rate of 2.625% and yield of 2.734%.
