Sberbank of Russia Said to Seek $1.5 Billion of Three-Year Loans

OAO Sberbank, Russia’s biggest lender, is seeking to raise $1.5 billion from a three-year term loan, according to three people with knowledge of the matter.

Sberbank is proposing to pay interest of 150 basis points more than the London interbank offered rate, said the people, who asked not to be identified because the deal is private.

That would be the same margin the Moscow-based lender agreed to pay on its $1 billion three-year loan signed in November, according to data compiled by Bloomberg. A basis point is 0.01 percentage point.

Alexander Baziyan, a spokesman for Sberbank in Moscow, couldn’t immediately comment when contacted by phone.

To contact the reporters on this story: Patricia Kuo in London at pkuo2@bloomberg.net; Tom Freke in London at tfreke@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net

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