OREANDA-NEWS. April 24, 2012. Russian Agricultural Bank (RusAg) closed the order book for its Series 16 bonds issue with the nominal value of RUB 10 billion. Maturity of the issue is 10 years with a 3-year put option, reported the press-centre of RusAg.  

The book was opened on April 9, 2012 with an annual coupon rate set at 8.40%-8.60%. Despite the high volatility, deteriorating markets and weak results of other issuers` placements, RusAg managed to secure a strong demand for the bonds and closed the order books with oversubscription and the annual coupon at 8.55%.

The issue achieved strong supply from Russian and international banks, as well as large investment and asset-management companies. There were 32 orders applied for the book, mostly from Russian institutional investors and foreign-owned banks.

"The successful placement of bonds amid weak market is another acknowledgement of RusAg`s status of an extremely reliable issuer", said Victoria V. Kirina, Deputy Chairman of the Management Board at Russian Agricultural Bank.

VTB Capital and Sberbank acted as book-runners.

Troika-Dialog appointed the lead co-runner.

Co-runners are Barclays Bank, Asian-Pacific Bank, Svyaznoy Bank.

Globex Bank acted as an underwriter.