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Russian Agricultural Bank issues $1.25 billion worth of Eurobonds

Russian Agricultural Bank has placed a $1.25 billion Eurobond issue, the state-owned bank's board chairman said Friday.

Yury Trushin said the facility, organized by Citigroup, JPMorgan and Barclays Capital, will be mature in 10 years and has a rate of 6.299%. The facility has been listed on the Irish Stock Exchange. "The Eurobonds aroused great interest with investors," Trushin said. The bank, among Russia's top 30, received 122 applications worth $2.2 billion. The Eurobonds were distributed among 115 investors, including from the United States (74%), Britain (10%), Asian (9%) and other states (7%). The facility was granted A3 by Moody's and long-term BBB+ by Fitch. The bank is 100% state owned. It offers a wide range of services to medium and small agricultural businesses, as well as to Russia's rural population through its network, comprised of more than 500 offices across the country. (rian.ru)