Russia's Ak Bars raises $600 mln via Eurobond

MOSCOW, July 16 Mon Jul 16, 2012 12:23pm IST

MOSCOW, July 16 (Reuters) - Russian mid-sized lender Ak Bars raised $600 million via a ten-year Eurobond issue, pricing the deal at an 8 percent yield, the bank said in a statement on Monday.

Ak Bars, with its headquarters and key operations in Russia's Republic of Tatarstan, is ranked among the top-20 domestic lenders by assets.

Together with Ak Bars' deal, Russian borrowers have raised over $25 billion via Eurobond issues so far this year, more than for last year as a whole.

(Reporting by Katya Golubkova)