OREANDA-NEWS. On May 22, 2008 Russian Agricultural Bank completed a new issue of notes from the updated US\\$5,0bn Programme for the Issuance of Loan Participation Notes for RSHB Capital S.A., reported the press-centre of RAB.

The total size of the offering is US\\$1,75 billion over two tranches, a long five-year and a 10 year issue. The long 5 year tranche priced to yield 7,125% and the 10 year priced to yield at 7,75%. ABN AMRO, Citi, and Goldman Sachs have acted as Lead Managers of the offering.

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 144a / Reg S format. The notes are listed in the Dublin Stock Exchange.

Notes are issued to provide for the funding of Russian Agricultural Bank’s operations, which include lending within the framework of the ongoing Federal Program on Agribusiness Development 2008-2012.