RAB takes $800m in 10 year non-call 5 subordinated debt

02 Jun 2011

Russian Agricultural Bank priced its $800m 10 year non-call five subordinated note via lead managers Barclays Capital, JP Morgan and VTB Capital late last Thursday night.

The deal generated orders of $1.6bn, but is unlikely to prompt many other similar notes from Russian banks.

The note was marketed with a minimum size of $500m — in order to address refinancing needs arising from a subordinated debt deal that it has said it will call in ...

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