OREANDA-NEWS.  June 22, 2012. Russian Agricultural Bank (Baa1/BBB) priced USD 500 million Eurobond issue. The securities are issued in 144A/Reg S format and listed on the Irish Stock Exchange. Maturity of the issue is 5.5 years, reported the press-centre of RusAg. 

Russian Agricultural Bank (RusAg) is the first Russian bank that has entered the primary market in the environment of European debt crisis escalation. The issue achieved strong investor demand, which was 5 times over the initial size of the offering, witnessing a strong confidence in the Bank.

Despite the high market volatility, RusAg managed to lower the initial price guidance and set the annual coupon at 5.298% or a historic record low for the Bank`s USD public borrowings.

"We are satisfied with the pricing results amid the market uncertainty. The demand for Eurobonds and the final coupon rate are 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.

Joint Lead Managers are Citigroup Global Markets, J.P. Morgan Securities and VTB Capital.