OREANDA-NEWS. November 11, 2011. Russian Agricultural Bank (RusAg) closed the order book for its Series 15 bonds issue with the nominal value of RUB 10 billion, reported the press-centre of RusAg.

The book was opened on November 1 with an annual coupon rate set at 8.40%-8.80%. Despite the high volatility, deteriorating markets and tough competition from the other issuers, RusAg managed to secure a strong demand for the bonds and closed the order books with oversubscription and the annual coupon at 8.75%.

Maturity of the bonds is 10 years, with a put option in 2 years.

The issue achieved strong supply from Russian and international banks, as well as large investment and asset-management companies. There were more than 60 orders applied for the book, mostly from Russian institutional investors and foreign-owned banks.

"The successful closure of the book amid market instability is the acknowledgement of RusAg`s status as an extremely reliable issuer", said Victoria Kirina, Deputy Chairman of the Management Board at Russian Agricultural Bank.

ZAO VTB Capital and ZAO KB Citibank acted as book-runners.

Renaissance Capital appointed the lead co-runner.

Co-runners are ING Bank (Eurasia), Nomos-Bank, Raiffeisenbank, Royal Bank of Scotland, RONIN LLC, Bank of Khanty-Mansiysk, HSBC Bank (RR).