Russian Agricultural Bank, or Rosselkhozbank, raised 10 billion rubles ($334 million) via a five-year eurobond issue, pricing the deal at the lower end of initial guidance of 8.63 percent, two banking sources said Tuesday.
The lender, Russia's fourth largest by assets, was guiding investors toward a yield of 8.625 percent to 8.75 percent for the ruble eurobond issue.
Rosselkhozbank was following in the steps of Russia's top lender Sberbank and state development bank VEB, which reopened the eurobond market for local borrowers earlier this month, raising $2.5 billion in total. Sberbank is also looking into the possibility of issuing a eurobond denominated in Swiss francs, a source said Monday.
(Reuters)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.