OREANDA-NEWS. August 01, 2013. Russian Agricultural Bank (RusAg) placed a USD 800 million Eurobond due in July 2018. The Eurobond is issued under Rule 144A / Reg S and listed on the Irish Stock Exchange.

RusAg became the first Russian financial institution to tap the international debt market after the market recovery. The new issue generated strong demand from U.S. and European investors — the initially indicated size was almost 5x times oversubscribed, which testifies to the high level of trust in the Bank.

The issue was priced at the tight end of the revised price guidance of 5.1 — 5.2%, initially announced at 5.4% p.a. The coupon rate of 5.1% p.a. is the historical minimum yield for the Bank’s USD public borrowings.

“We are satisfied with the results of the Eurobond issue under complicated market conditions. The level of demand and the coupon rate is an acknowledgement of RusAg`s status as a prime borrower”, said Victoria V. Kirina, Deputy Chairman of the Management Board at Russian Agricultural Bank.

Joint Lead Managers are J.P. Morgan Securities, the Royal Bank of Scotland and VTB Capital.