Euromoney Recognizes RZD Eurobond Placement as Transaction of Year
OREANDA-NEWS. February 17, 2012. The magazine Euromoney has declared the placement of a 650 million pound sterling, 20-year Eurobond by Russian Railways in 2011 as the winner in the category "Deal of the Year" in Central and Eastern Europe, reported the press-centre of RZD.
Victory is awarded annually to the most outstanding deals on the international capital markets. The voting to determine the winner is conducted with the participation of professional participants in the securities market and is based on several criteria, including management effectiveness and professionalism, the result of the transaction, the complexity of its structure, the influence of the transaction on the future development of the market. The award reflects the professional opinion of banks, investors and fund managers.
In 2011, Russian Railways placed a 650 million pound sterling, 20 year Eurobond with a coupon of 7.487% per annum. The issue was oversubscribed 1.8 times.
Russian Railways was the first Russian company to place a Eurobond in pounds sterling for such a long term and thus opened the way to the market for very long borrowing to finance investments in infrastructure.
Euromoney is a monthly business magazine founded in 1969. Since 1991, it has been making annual awards for excellence to leaders in banking, finance and investments in 70 countries.