Sberbank CIB News

Sberbank CIB organises placement of KAMAZ bonds worth RUB 9 bln


Sberbank announces that on 25 May 2018, KAMAZ PJSC successfully closed a deal to place new issues of series BO-09, BO-10 and BO-11 rouble bonds worth RUB 9 bln with the Russian Federation’s state guarantee. The amount of the placement is RUB 9 bln and has a maturity period of 15 years. The placement has a variable coupon but no put option.

The deal has unique structure: for the 2nd-30th coupons, the seven-year point of the zero-coupon yield curve of the Federal Loan Bonds (OFZs) is used as the underlying asset. The first coupon is fixed. Book building was carried out in the amount of the spread to the underlying asset.

This is the first market deal in the corporate sector with such a long maturity period and no put option.

Despite the complex structure, the issuer managed to attract a great amount of demand during the placement. During book building, the order book was oversubscribed three times, which allowed the spread to be decreased from the initial 100 basis points to the final 75 basis points. As a result, more than 35 investors took part in the deal.

This successful 15-year placement by KAMAZ once again emphasises the company’s strong loan portfolio, its potential for development, and the high level of confidence from the investment community.

The deal was organised by VTB Capital and Sberbank CIB1. The technical placement took place on 29 May 2018.

Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 145 million customers in 20 countries. Sberbank has the largest distribution network in Russia with almost 15,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, India, China, Turkey and other countries.

The Bank holds the general banking license No.1481 issued by the Bank of Russia. Official websites of the Bank: (Sberbank Group website),

Sberbank CIB

Sberbank CIB is the corporate and investment banking business of Sberbank. Its key areas of activity are corporate finance (including trade finance), the documentary business2, investment banking services, trade operations with securities, and private equity. Sberbank’s corporate and investment banking business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.

1 On the basis of JSC “Sberbank CIB” and Sberbank.
2 Banking products and services provided by Sberbank.