September 30, 2016 / 2:02 PM / a year ago

Russian Railways launches Rbs15bn seven-year Eurorouble at 9.2%

Sept 30 (IFR) - Russian Railways has launched a Rbs15bn seven-year Eurorouble bond at 9.2%, according to a lead.

The size is at the lower end of the Rbs15bn-Rbs20bn range but the pricing is at the tight end of final guidance.

The company began marketing the notes at 9.5% area and set final guidance at 9.25% (+/-5p), to price in range.

Books were in excess of Rbs50bn at the last update, including joint lead manager interest.

The Reg S deal is being led by JP Morgan, Sberbank and VTB Capital. Pricing to follow shortly.

On Thursday, state-owned Russian Railways priced a US$500m October 2020 Eurobond.

The company is rated BB+ by Standard & Poor’s and BBB- by Fitch, though S&P’s rating on the Eurorouble notes is expected to be BBB-. (Reporting by Robert Hogg; editing by Sudip Roy)

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