Sberbank opted against selling dollar bonds for the first time in two years because debt markets are too unstable, deputy CEO Anton Karamzin said in an interview.
“The market now is far too volatile and dislocated to ensure comfortable levels for us,” he said. The decision to delay selling foreign currency debt was made even after foreign investors showed a “healthy appetite” for Sberbank debt during meetings in Europe.
“We have excessive liquidity and can wait until the right moment on the market,” he said.
(Bloomberg)