Federation of Russia (RUGV)

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Federation of Russia (RUGV)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	SSA	PRCD	RUGV	Federation of Russia	$4,000		2	EMEA	Mar 16, 2018

Tranche #1Federation of Russia

currency

USD

size (m)

1,500.000

maturity

Mar 21, 2029

type

Fixed

tenor

11.000

call

registration

144A/Reg S

benchmark

YLD

ranking

Sr. Unsecured

moody's

Ba1

s&p

BBB-

fitch

BBB-

size description

re-open/tap

ipt

4.75% a

ipt-pxd

guidance

4.625%

spread

coupon

4.375%

spread set

price

97.86300

yield

4.625%

book size (m)

6,500

peak book (m)

x-covered

4.33

book attrition

nic

22.5

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

6,500

peak book (m)

x-covered

4.33

book attrition

nic

22.5

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #2Federation of Russia

currency

USD

size (m)

2,500.000

maturity

Jun 23, 2047

type

Fixed

tenor

29.000

call

registration

144A/Reg S

benchmark

YLD

ranking

Sr. Unsecured

moody's

Ba1

s&p

BBB-

fitch

BBB-

size description

re-open/tap

Yes

ipt

5.50% a

ipt-pxd

guidance

5.25%

spread

coupon

5.25%

spread set

price

99.99150

yield

5.25%

book size (m)

7,200

peak book (m)

x-covered

2.88

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

7,200

peak book (m)

x-covered

2.88

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

11 yr: Book size: 6500; Registration: 144A/Reg S; Comments: USD1.5bn bmk 11yr. With 2047 tap. Ba1/BBB-/BBB-. VTB sole. IPTs 4.75% area, guidance 4.75% area revised 4.625%/4.75%, set 4.625%, launched 1.5bn. Total books closed c.7.2bn. 4.375% coupon; 29 yr: Book size: 7200; Registration: 144A/Reg S; Comments: USD2.5bn tap of 4.5bn 5.25% 2047. With new 11yr. Ba1/BBB-/BBB-. VTB sole. IPTs 5.5% area, guidance 5.25%/5.375%, revised 5.25% (+/-5 WPIR), launched 2.5bn at 5.25%, Total books closed c.7.2bn. 88 days AI;

Deal Comments

USD2.5bn tap of USD4.5bn 5.25% due 6/23/2047

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Federation of Russia (RUGV)

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