Source: Russia to place 5, 10 and 30 year Eurobonds.

By bne IntelliNews March 27, 2012
Russia could issue three tranches of 3-year, 5-year and 10-year Eurobonds, PRIME reports citing a government source. The books on the issues are planned to be closed on Tuesday March 27 after holding a road-show in the US and UK. Last week FinMin Anton Siluanov told the press that his ministry believes that current situation on the financial markets favourable for sovereign Eurobond issu,. He said that a good placement is anticipated after the road-show which is going to be over this week. Issue is organised by BNP Paribas, Citigroup, Deutsche Bank, Troyka Dialog and VTB Capital. No other details were yet provided by FinMin, other than reminding that maximum amount of foreign borrowings this year is USD 7bn. As announced by FinMin, government's external debt as of January 1 2011 amounted to USD 35.8bn, decreasing by 10% y/y. Most of the debt accounted for Eurobonds borrowings that stood at USD 29.1bn, down by 4.2% y/y. According to preliminary estimates of CBR, gross external debt increased by USD 50bn or 10.2% y/y to USD 538.94bn as of January 1 2012. Out of that, government's debt amounted to USD 33.57bn (vs. USD 34.5bn a year ago), banking sector debt to USD 164bn (vs. USD 144bn) and debt of other sectors to USD 330bn (vs. 298bn).

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