UPDATE: Sberbank’s board approves 250 bln rbl commercial bond program

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MOSCOW, Feb 8 (PRIME) -- The supervisory board of Russia’s top bank Sberbank has approved a commercial bond program totaling up to 250 billion rubles or an equivalent in a foreign currency, the bank said in a statement on Friday.

Under the program, the bonds will be offered privately and will have maturity of up to 15 years.

A representative of the bank told PRIME that Sberbank was ready to offer commercial bonds if it sees client interest.

“In case clients are interested, Sberbank is ready to consider a wide range of market instruments, including commercial bonds. Money market instrument plans are defined by the market situation and by client demand,” the person said.

(66.0199 rubles – U.S. $1)

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