OREANDA-NEWS. On May 11, 2007 Russian Agricultural Bank completed a new issue of notes from the updated US$3bn Programme for the Issuance of Loan Participation Notes for RSHB Capital S.A. The size of the issue is US$1,25mln, maturity of the issue is 10 years, and the coupon is 6,299%. Citigroup, JPMorgan and Barclays, have acted as Lead Managers of the notes issue, reported the press-centre of Russian Agricultural Bank.


Russian Agricultural Bank has a “Baa2” long-term foreign currency deposit rating by Moody’s and “BBB+” issuer default rating by Fitch.  The issue of senior unsecured notes by RSHB Capital S.A. is assigned “A3” rating by Moody’s and “BBB+” Long-term rating by Fitch. The benchmark issue of notes of RSHB Capital S.A. was completed in the 144(A) / Reg S format. Notes are listed at the Dublin Stock Exchange.

The issue of notes was received with a strong investor interest and attracted an order book of US$2,2bn with orders placed by 122 investors.  Final placement of notes took place among 115 investors with 74% of the issue amount going to the US, 10% to UK, 9% to Asia and 7% to other regions. Bonds are issued to provide for the funding of Russian Agricultural Bank’s operations, including lending within the framework of the ongoing National Priority Project On Agribusiness Development.