Russia's ICB Bank sets talk for dollar-denominated 10-year bonds at 6 3/8% area

By Reshmi Basu

New York, Sept. 20 - Industry & Construction Bank set initial price talk for a dollar-denominated offering of 10-year notes (Ba1//B+) in the area of 6 3/8%, according to a market source.

The issue will be structured as subordinated loan participation notes and lower tier II notes.

The notes will also be non-callable for five-years.

ABN Amro and Deutsche Bank are running the Regulation S transaction for the St. Petersburg-based financial institution.

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