OREANDA-NEWS. August 30, 2012. Russian Agricultural Bank (RusAg, Baa1/BBB) issued a USD 450 million tap to its Eurobond issue with the maturity date in December 2017 increasing the total volume of the issue up to USD 1.3 billion, reported the press-centre of RusAg. 

The tap met a strong demand from more than 100 investors from Europe and USA which let the Bank to raise the price of the issue from 104,5% to 105% of the nominal account, reducing a discount to the secondary market price to a minimum. The annual coupon was set at 4,238%.

"The total book 10 times exceeded the initial size of the tap issue demonstrating the highest ever demand for RusAg`s public borrowings in USD. Due to an impressive oversubscription, the Bank decided to increase the volume of the tap to USD 450 million", 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.