Fitch rates Russia's Eurobonds at BBB.

By bne IntelliNews April 2, 2012
Fitch Ratings assigned a BBB rating to Russia's last week placement of USD 7bn worth of Eurobonds, in line with Russia's Issuers Default Rating (IDR) with a Stable outlook. At the end of last week FinMin confirmed issuing USD 2bn worth of 5-year bonds at coupon rate of 3.25%, USD 2bn worth of 10-year Eurobonds at a rate of 4.5% and USD 3bn worth of 30-year bonds at a rate of 5.625%. The demand for the securities exceeded the amount proposed more than two fold, while FinMin Anton Siluanov commented that placement of 30-year bonds will become a new long-term guidance for long-term borrowings of Russian companies. Issue is organised by BNP Paribas, Citigroup, Deutsche Bank, Troyka Dialog and VTB Capital. Notably, with this Eurobond issue FinMin successfully covers all the planned foreign borrowings of USD 7bn for this year.

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