Sberbank closed a deal to place Eurobonds worth $1.5 billion at acceptable rates. The president of the largest bank in the Russian Federation, German Gref, announced this on Thursday at the Russia Forum 2012.

“We have closed a deal to raise $1.5 billion from international markets at rates acceptable to us,” RIA Novosti quotes Gref . The head of Sberbank added that it was not easy.

He recalled that the placement of Sberbank Eurobonds was the first entry into international markets among Russian issuers in recent times.

Earlier, citing a source in banking circles, it was reported that Sberbank placed five-year Eurobonds in the amount of $1 billion at 4.95% per annum.

Sources also reported that Sberbank planned to place the second tranche of Eurobonds for a period of 10 years in the amount of $500 million with a yield target of about 6.25% per annum. Other sources in the financial market said that Sberbank is placing Eurobonds, setting a benchmark yield on securities of about 5% per annum.

Last week, Sberbank held a non deal road show in Europe and the USA, following which it did not rule out the possibility of issuing Eurobonds. The organizers were Barclays Capital, BNP Paribas, Citi and Troika Dialog.

In January, Gref noted that in the difficult financial situation in Europe, capital markets are closed even to the best Russian borrowers and this situation may not even last for six months.

The last time Sberbank placed Eurobonds was in June last year. Then the volume of ten-year securities issued amounted to $1 billion at a rate of 5.717% per annum.

Currently, Sberbank has five issues of Eurobonds in circulation for $4.75 billion, as well as an issue worth 400 million Swiss francs.

Gref: Sberbank placed Eurobonds for $1.5 billion at acceptable rates