Russia & CIS
15:04 GMT, May 20, 2008 Latest Headlines...
Source reveals yield guidance on Russian Agriculture Bank's LPN (Part 2)
MOSCOW. May 20 (Interfax) - The yield guidance on Russian
Agriculture Bank's (RAB) loan participation notes (LPN) issue is 7.125%-
7.25% for the five-year tranche and 7.75%-8% for the ten-year tranche, a
source in banking circles told Interfax.
Pricing will be held on Wednesday.
The size of both tranches will total about $1 billion.
The two tranches are expected to be for equal amounts, but if a
decision is made to place different amounts, preference will be given to
the longer issue, the source said.
The dollar-denominated bonds will be issued under rules 144A/Reg S.
ABN AMRO, Citi and Goldman Sachs have been hired to arrange the
issue.
RAB placed 100 million Swiss francs in four-year LPN at 6.263%
annually at the beginning of April this year. It later placed another 50
million Swiss francs in notes from the same issue. UBS arranged this
offering.
In May 2007, RAB sold $1.25 billion in ten-year Eurobonds at
6.299%, arranged by Citigroup, JP Morgan and Barclays Capital.
Russian Agriculture Bank, which is wholly owned by the Russian
government, was Russia's fifth largest bank by assets in the first
quarter of 2008, according to the Interfax-100 ranking of the country's
biggest lending institutions, compiled by the Interfax Center for
Economic Analysis.
|
