Source: Demand for Russia's Eurobonds exceeds RUB 10bn.

By bne IntelliNews March 28, 2012
Demand for Russia's Eurobonds placed by FinMin this week exceeded USD 10bn, Reuters reports citing financial sources. At the same time most of the securities issued are longer-term. To remind, this week PRIME cited government sources saying that FinMin is going to issue 5-year, 10-year, and 30-year Eurobonds. Now PRIME reports that Eurobonds could yield US T-Bills+235bps for 5-year issue, UST+265bps on 10-year issue and UST+265bps on 30-year issue. Pricing is reportedly expected on Wednesday March 28. Last week FinMin Anton Siluanov told the press that his ministry believes that current situation on the financial markets favourable for sovereign Eurobond issue. The 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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