Russian Railways to start roadshow for USD 1bn of Eurobonds.

By bne IntelliNews March 18, 2010
As announced by the head of the state rail monopoly Russian Railways (RZD) Vladimir Yakunin, the company is planning to start a roadshow for its Eurobond issue next week in London . Previously, RZD announced its plans to issue USD 1bn worth of Eurobonds with a maturity of 10 years, but Yakunin is confident that demand for securities will be higher than that. Overall, in 2010 RZD is planning to raise RUB 123.5bn (USD 4.2bn) worth of borrowings. As reported, state support for RZD is going to amount to RUB 50bn in 2010, the same as in 2009. However, as recently announced by the head of the state rail monopoly Vladimir Yakunin, RZD might need another RUB 400bn in state support for the period of 2010-2015. The funds would be necessary for realizing the investment program for the coming 6 years. Investment program of RZD for 2010 stands at RUB 270.5bn, main priorities being development and renewal of infrastructure on main transit and export-oriented directions. Russian Railways is 100% owned by the government.

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