TransCreditBank as an arranger and the placement agent for the all-time largest 8th bond issue of JSC RZhD

On July 9, 2008 Russian Railways placed its 8th bond issue at MICEX. TransCreditBank acted as the placement agent and an arranger for the deal. Other arrangers were IC Troika Dialogue, VTB Bank and Gazprombank.

The bond was placed on the basis of book-building where the issuer may determine not only the offering price, but also the size of allocation to each investor on a case-by-case basis.

The issue comprises 20 mln bonds of RUR1,000 face value each. The bond matures in 3 years.

The bond carries a semiannual coupon. The issuer set the coupon rate at annual 8.5%, which corresponds to yield-to-maturity of annual 8.68%.

The total demand for RZhD’s bonds amounts to RUR31.195 bn, with investors making all in all 56 bids.

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