OREANDA-NEWS. December 15, 2008. Russian Agricultural Bank placed its series 05 non-convertible interest bearing bonds payable on demand worth RUR 10 billion maturing in 2018. State registration number of the issue is 40503349В dated February 5, 2008. The issue was placed on the first day of the placement – December 9, 2008, reported the press-centre of Russian Agricultural Bank.

The issue consists of 10 million bonds with a par value of RUR 1,000 each and a maturity period of 10 years. The offering provides for 20 half-year coupon payments.

The first coupon amounted to 13.50%, the second-sixth coupons equal the first coupon, other coupons will be set by the issuer additionally. Effective yield of the bonds to the 3-years tender was 13.96%.

VTB-Bank is the underwriter and book runner of the deal.

RAB has also placed an offer for buying the bonds back at a par value during the last five calendar days of the sixth coupon period.

Funds raised from the placement will be used to expand RAB’s active operations and contribute to the implementation of the Federal Program on Agribusiness Development 2008-2012.