RAB takes 2018s to $1.3bn
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 ...
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