FinMin: Russia prepares RUB 60bn Eurobonds issue.

By bne IntelliNews February 1, 2011
As announced by the deputy FinMin Dmitry Pankin, Russia is preparing a RUB 60bn (USD 2bn) RUB-denominated Eurobond issue in the nearest future due to favourable conditions on the foreign debt market. Pankin added that ministrys goal was that Reserve Fund and National Welfare Fund remain untouched this year, while federal budget deficit is covered from foreign and domestic borrowings. To remind, it was previously announced that issue of RUB-denominated Eurobonds could be made in Q1/11 already. The amount of the issue was planned at RUB 30bn-RUB 80bn, with maturity of three to ten years, organised by local VTB Capital and Renaissance Capital together with J.P. Morgan, Deutsche Bank and HSBC. Previously FinMin also voiced its intention to issue EUR-denominated Eurobonds, as well as possibly thirty-year securities. Last year Russia issued USD 2bn worth of five-year Eurobonds yielding a coupon rate of 3.625% and USD 3.5bn worth of ten-year Eurobonds yielding a coupon rate of 5%. Governments external debt amounted to USD 34.43bn (up by 10% y/y), according to first estimates by CBR. This year foreign borrowings ceiling is set at USD 7bn. In December unofficial sources announced that FinMin started a road-show for RUB-denominated Eurobonds, but called it off shortly after and postponed until more favourable market conditions.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Russias participation in Cyprus bail-out under question.

As Cyprus is trying to come up with new ways to raise EUR 5.8bn needed to secure the financing from ECB, EC, and IMF, Russia's participation in the package is not clear. According to the latest ... more

Fitch: Russian banks risks in Cyprus limited.

Fitch Ratings believes that resolution of the Cyprus crisis with a deposit levy or some other form of burden sharing involving creditors is unlikely to result in material losses for Russian ... more

Sources: Russia could triple oil exports to China.

Russia and China discuss contracts that would triple exports of Siberian oil through various transport corridors, Reuters reports citing unnamed sources in the industry. Rosneft is discussing ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    6 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    3 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    3 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    1 month ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    29 days ago
  5. Saudi Arabia to scale back plans for Neom city
    16 days ago

Reports

Dismiss