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Borrowing Seen Flat

Russia's top lender Sberbank expects its total borrowing program to be around the same this year as in 2012 and could include Eurobonds in Turkish liras, rubles and dollars, a senior executive at the bank said Friday.

"Maybe one will be a subordinated bond in dollars similar in size to the one we did in November," chief financial officer Anton Karamzin told journalists. The bank expects to borrow a smaller amount overall in dollars in 2013 than it did last year.

In 2012 it raised around $4.7 billion in dollar-denominated debt, Karamzin said.

Sberbank hired banks to arrange meetings with investors to test market interest towards possible Eurobond issue denominated in Turkish liras, a banking source told Reuters this week.


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