OREANDA-NEWS. April 25, 2011. Russian Agricultural Bank successfully issued a RUB 12 billion tap to its rouble denominated Eurobond placed in March 2011. The amount of the offering totals now RUB 32 billion with coupon of 8.7%, due March 2016, reported the press-centre of RusAg.

The issue achieved strong supply from over 50 investors from Europe, US and Asia. The total book closed more than 3 times oversubscribed and exceeded planned amount of RUB 10 billion. Due to a formidable investors’ demand RusAg decided to increase the volume of additional issue to RUB 12 billion

Funds from the placement will be used by Russian Agricultural Bank to further expand financial support of agricultural and related sectors, and implementation of the state Program on Agribusiness Development 2008-2012.