December 19, 2017 / 7:32 AM / a year ago

Russia banks should sell sub-debt to professional investors

MOSCOW, Dec 19 (Reuters) - The Russian central bank would like banks to sell their subordinated bonds to professional market players instead of the retail buyers, Central Bank First Deputy Governor Sergei Shvetsov said on Tuesday.

Subordinated debt is unsecured and stands last in the queue to be repaid in the event of a liquidation of its issuer. The issue of subordinated bonds arose this year as the central bank bailed out three large lenders within a couple of months - Otkritie Bank, B&N bank and Promsvyazbank. (Reporting by Elena Fabrichnaya; Writing by Andrey Ostroukh; editing by Katya Golubkova)

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