RAB takes 2018s to $1.3bn

By Steven Gilmore
19 Feb 2014

Russian Agricultural Bank took its July 2018 senior bonds to $1.3bn with a $500m increase on Tuesday, and priced the deal with a decent concession after attracting new buyers into the tap.

Bookrunners JP Morgan, Royal Bank of Scotland and VTB Capital set initial price thoughts in the 4.8% yield area, guidance at 4.7%-4.75% and priced the bond at 4.7%.

Before they opened books on the tap the bonds were trading around 4.6%, and so an initial 20bp concession had ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial