New Issue: Russian Railways adds $400 million to 5.7% notes due 2022 to yield Treasuries plus 234.5 bps

By Christine Van Dusen

Atlanta, Oct. 11 - Russian Railways priced a $400 million tap of its 5.7% notes due April 5, 2022 (Baa1/BBB/BBB) at 112.869 to yield 4.05%, or Treasuries plus 234.5 basis points, a market source said.

The add on was talked in the 4.1% area.

JPMorgan, RBS and VTB Capital were the bookrunners for the Regulation S deal.

Russian Railways is based in Moscow.

Issuer:	Russian Railways
Amount:	$400 million
Maturity:	April 5, 2022
Description:	Notes
Bookrunners:	JPMorgan, RBS, VTB Capital
Coupon:	5.7%
Price:	112.869
Yield:	4.05%
Spread:	Treasuries plus 234.5 bps
Trade date:	Oct. 10
Settlement date:	Oct. 16
Ratings:	Moody's: Baa1
	Standard & Poor's: BBB
	Fitch: BBB
Distribution:	Regulation S
Price talk:	4.1% area

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