Alfa Bank Eyes Autumn Bond Floatation

Russia's Alfa Bank might come to the bond market in September or October, according to Mike Lawrence, Alfa Bank treasurer.

"We completed a U.S. nondeal roadshow and an Asian one in the middle of July with positive investor feedback from both," said Lawrence. "We mentioned our intention to tap the market in September/October if market conditions permit. Our view has not changed and we will see what the market is like at that time."

The borrower has mandated JP Morgan, Goldman Sachs and Bank of America Merrill Lynch to arrange the dollar Tier 2 deal, according to two sources.

Alfa Bank's last bond was a 350 million euro three year note priced on June 4 and issued through its holding company, ABH Financial.

ABH Financial is rated BB- by S&P and BB+ by Fitch.

See also:

Russia to Use Pension Savings as Short-Term Budget Fix for Second Year

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