Russian Agricultural Bank (RusAg) received Cbonds Awards-2016 in the category ‘Best Primary Corporate Bond Deal’. The awarding ceremony took place at XIV Russian bond congress.
The award was presented for the placement of a RUB 5 billion perpetual subordinated bond. RusAg became the first Russian issuer to place such type of bond in the local debt market.
The issue met strong demand of a wide variety of market participants. Apart from asset managers, insurance and investment companies, the securities were actively bought by individual investors. They accounted for about 15% of the final order book.
The funds raised in the debt capital market were included in the Bank’s Tier 1 capital, which allowed to increase Tier 1 and total capital adequacy ratios and to maintain high lending growth rates to Russian agribusiness.