Russian Railways plan to issue USD 1bn worth of Eurobonds.

By bne IntelliNews February 26, 2010
As announced by the head of the state rail monopoly Russian Railways (RZD) Vladimir Yakunin, the company is planning to issue USD 1bn worth of Eurobonds this year. The placement is going to be issued in one tranche with a maturity of about 10 years. Previously RZD already announced its intention to place USD 1bn worth of Eurobonds in May-April 2010. Company posted net profit of RUB 35.14bn in Jan-Sep 2009, down by 10% y/y. To remind, in H1/09 company suffered a net loss of RUB 13.7bn vs. RAS net profit of RUB 27.3bn in H1/08. In Jan-Sep RZD revenues went down by 7.2% to RUB 778bn. RAS net profit of RZD in 2008 amounted to RUB 13.4bn vs. net profit of RUB 84.5bn in 2007. Russian Railways is 100% owned by the government.

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