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Rosselkhozbank Issues Bond

Russian Agricultural Bank raised $500 million through a eurobond offering, taking advantage of improved risk sentiment after Greece's weekend election, a banking source said.

The state-owned lender, also known as Rosselkhozbank, priced the deal late Monday with a yield set at mid-swaps plus 425 basis points maturing in December 2017, the source added.

Another banking source said Monday that state development bank VEB was also looking at the eurobond market and may decide on a deal as early as next week. The source added that Gazprom plans to tap the market in July. 

(Reuters)

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