RusAG Closed Order Book for RUB 10 bn Local Bonds Issue
OREANDA-NEWS. August 02, 2013. Russian Agricultural Bank (RusAg) closed the order book for its Series 21 bonds issue with the nominal value of RUB 10 billion.
The book was opened on July 23 with the coupon guidance 7.90%-8.05% p.a. The level of demand allowed to close the order book with almost double oversubscription with the coupon set at 7.85% p.a. Maturity of the bonds is 10 years, with a put option in 2 years.
The issue generated significant demand from a wide range of investors, including Russian and international banks, large investment and asset management companies. More than 50 orders were submitted. Most demand came from Russian institutional investors and subsidiaries of foreign banks.
“We are satisfied with the results of the placement. High investors’ demand allowed the Bank to set the coupon rate below the initial guidance”, said Victoria V. Kirina, Deputy Chairman of the Management Board at Russian Agricultural Bank.
VTB Capital acted as a book-runner.
Co-managers are Globex Bank, Region Broker company, RosEvroBank, Unicredit Bank.
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