Page 92 - RusRPTJul20

8.5.1​ Fixed income - bond news
Russian private Alfa Bank is planning a placement of 3 to 5-year euro-denominated Eurobonds​, Reuters reported on June 1 citing unnamed banking sources. The bank, together with JPMorgan and UBS, is reportedly settocallinwithinvestorsthisweek.​​Asreportedby​bneIntelliNews,​ under capital pressures Alfa Bank (Alfa Group of billionaire Mikhail Fridman) saw its net profit drop 1.8-fold to $704mn in 2019​, marking the first decline in net profit since 2014, when it suffered a 27-fold drop to $33mn.
92​ RUSSIA Country Report​ July 2020 ​ ​www.intellinews.com