OREANDA-NEWS. April 25, 2013. Russian Agricultural Bank (RusAg) closed the order book for its Series 20 bonds issue with the nominal value of RUB 10 billion.

The book was opened on April 16 with the coupon guidance set at 7.90%-8.15% p.a. Despite the high volatility and deteriorating market conditions in the course of the marketing campaign, RusAg managed to secure a strong demand for the bonds and closed the order book with significant oversubscription with the coupon set at 7.99% p.a. Maturity of the bonds is 10 years, with a put option in 3 years.

The issue generated strong demand from Russian and international banks, as well as large investment and asset management companies. More than 40 orders were submitted, mostly by Russian institutional investors and foreign-owned banks.

“The successful closure of the book amid market instability is the acknowledgement of RusAg`s status as a highly reliable issuer”, said Victoria V. Kirina, Deputy Chairman of the Management Board at Russian Agricultural Bank.

VTB Capital acted as book-runner.

Co-runners are Unicredit Bank and CB Citibank. Bank BFA, Asian-Pacific Bank, Project Financing Bank and Nomos-Bank acted as underwriters.