RAB makes it three in euroroubles

30 Jan 2013

Russian Agricultural Bank (RAB) became the third financial borrower of the year to tap the eurorouble market on Tuesday, raising Rb10bn ($333m) of five year funding.

Citi, JP Morgan, Deutsche Bank and VTB led the new issue, which priced in line with guidance of high 7% area to yield 7.875%.

The deal follows eurorouble outings earlier in January by fellow state-owned Russian lenders Gazprombank and Sberbank.

Gazprombank reopened the market after the New Year ...

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