New Issue: Russian Agricultural Bank sells $1.25 billion 10-year notes at mid-swaps plus 110 bps

By Reshmi Basu

New York, May 10 - State-owned OJSC Russian Agricultural Bank sold a $1.25 billion offering of 10-year loan participation notes (A3//BBB+) at par to yield mid-swaps plus 110 basis points, according to a market source.

The deal came in line with initial guidance of 110 bps more than mid-swaps.

Barclays Capital, Citigroup and JP Morgan were joint lead managers for the Rule 144A and Regulation S deal, which was issued via RSHB Capital SA.

Issuer:	RSHB Capital SA
Borrower:	OJSC Russian Agricultural Bank
Amount:	$1.25 billion
Maturity:	May 15, 2017
Issue:	Senior unsecured loan participation notes
Coupon:	6.299%
Issue price:	Par
Yield:	6.299%
Spread:	Mid-swaps plus 110 bps, Treasuries plus 164 bps
Lead managers:	Barclays Capital, Citigroup, JP Morgan
Pricing date:	May 10
Settlement date:	May 14
Ratings:	Moody's: A3
	Fitch: BBB+
Distribution:	Rule 144A/Regulation S
Price guidance:	Mid-swaps plus 110 bps

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