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Sberbank of Russia eyes issuance of 50B ruble subordinated debt

PAO Sberbank of Russia CFO Alexander Morozov said the lender aims to issue subordinated debt worth 50 billion Russian rubles to the public soon, Reuters reported May 26, citing the Interfax news agency.

Morozov said the registration process is underway and that the size of the issuance would be confirmed at a later date.

As of May 25, US$1 was equivalent to 56.32 Russian rubles.