OAO Sberbank, Russia’s biggest bank, is planning to issue at least RUB30 billion ($958 million) in mortgage-backed bonds in 2011, Interfax reports Thursday. The bank has already sent an application to state development bank Vnesheconombank to issue the bonds under its mortgage program, the newswire reports, citing Sberbank retail chief Natalia Karaseva.
Sberbank may issue $958m mortgage bonds in 2011
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