Russian Agricultural Bank mandates Barclays, HSBC for bond offering

By Reshmi Basu

New York, Sept. 5 - State-owned OJSC Russian Agricultural Bank (Baa2/BBB+) has mandated Barclays Capital and HSBC to lead manage a dollar-denominated offering of 10-year subordinated bonds, according to a market source.

Additionally, the bonds will be non-callable for five years.

An investor roadshow will be simultaneously held in Asia and Europe, beginning on Sept. 11. Pricing is expected to take place afterwards.

The deal will be structured as a Regulation S transaction.

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