New Issue: Russian Railways prices €1 billion 3.3744% notes due 2021 at mid-swaps plus 203.7 bps

By Christine Van Dusen

Atlanta, April 19 - Russian Railways sold €1 billion of 3.3744% notes due May 20, 2021 (Baa1/BBB/BBB) at par to yield 3.3744%, or mid-swaps plus 203.7 basis points, a market source said.

The notes priced tighter than talk, set at mid-swaps plus 220 bps to 230 bps.

Societe Generale, Natixis, RBS and VTB Capital were the bookrunners for the Regulation S deal.

Russian Railways is a rail operator based in Moscow.

Issuer:	Russian Railways
Amount:	€1 billion
Maturity:	May 20, 2021
Description:	Notes
Bookrunners:	Natixis, Societe Generale, RBS, VTB Capital
Coupon:	3.3744%
Price:	Par
Yield:	3.3744%
Spread:	Mid-swaps plus 203.7 bps
Trade date:	April 18
Settlement date:	April 20
Ratings:	Moody's: Baa1
	Standard & Poor's: BBB
	Fitch: BBB
Distribution:	Regulation S
Price talk:	Mid-swaps plus 220 bps to 230 bps

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