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Sova Capital Acts as Joint Lead Manager on Sovcombank’s $300 Million Perpetual Eurobonds Issue

29 Nov 2021

Sova Capital has acted as Joint Lead Manager on Sovcombank’s $300 million perpetual LPNs issue with a coupon rate of 7.6% per annum.

The demand for bonds from investors at the peak reached $932 million. In total over 100 orders from the largest investment and pension funds were placed in the book from the USA, the UK, the EU, Switzerland, the UAE, and Singapore. In addition, there was significant demand for the Bank’s securities from private investors and investment funds from Russia.

“Even though the market situation is complex and unstable, the demand for the Bank’s securities from Russian and foreign investors was oversubscribed three times which reflects the demand for strong credit names.  Sova Capital is honored to advise and support Sovcombank on this capital raise for further business development”, Alina Sychova, Sova Capital’s Head of Capital Markets Origination.