Russian Agriculture Bank placing 3-yr Eurobonds at 3.6-3.7% - source
MOSCOW. Jan 23 (Interfax) - Russian Agriculture Bank (RSHB, Rosselkhozbank) is placing three-year Eurobonds at 3.6-3.7% pa, a financial market source told Interfax.
The source said this would be a benchmark-size issue.
The bonds are denominated in yuan.
J.P. Morgan and Royal Bank of Scotland are organizing the placement.
The bid book is scheduled to close on Wednesday.
Russian Agriculture Bank entered the international debt market last August, placing an additional $450 million in 5.5-year Eurobonds.
In the middle of last June, the bank placed $500 million in bonds. Then, at the end of that month, it placed an extra $350 million in these bonds.
Established in 2000, Russian Agriculture Bank is currently the key lender to the Russian agricultural sector. Its shares are wholly owned by the government.
Russian Agriculture Bank was Russia's fourth largest bank by assets at the end of Q3 2012, according to the Interfax-100 ranking.