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Bank Issues Eurobonds

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)

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