New Issue: Russian Railways prices $1 billion 5.7% 10-year bonds at par

By Aleesia Forni

Columbus, Ohio, March 30 - Russian Railways (Rurail) (Baa1/BBB/BBB) priced a $1 billion 5.7% 10-year bonds to yield Treasuries plus 352.9 basis points, according to a market source.

The deal priced at par to yield 5.7%.

JPMorgan, RBS and VTB Capital were the bookrunners.

Russian Railways is based in Moscow.

Issuer:	Russian Railways
Securities:	Bonds
Amount:	$1 billion
Maturity:	April 5, 2022
Bookrunners:	JPMorgan, RBS, VTB Capital
Coupon:	5.7%
Price:	Par
Yield:	5.7%
Spread:	Treasuries plus 352.9 bps
Trade date:	March 29
Settlement date:	April 5
Ratings:	Moody's: Baa1
	Standard & Poor's: BBB
	Fitch: BBB

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