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Russia to float Eurobonds irrespective of US banks agreeing to provide offering services

February 26, 16:34 UTC+3
Russia plans to borrow $3 bln as one tranche on the foreign market in 2016
1 pages in this article
Russian Finance Minister Anton Siluanov

Russian Finance Minister Anton Siluanov

© Alexander Astafyev/Russian Government Press Office/TASS

SHANGHAI, February 26. /TASS/. Russia will issue its Eurobonds irrespective of whether US banks agree to provide offering services, Finance Minister Anton Siluanov said on Friday.

The Wall Street Journal reported the day before citing informed sources the US authorities recommended certain major US banks to refrain from buying Russian government bonds.

"We are confident the issue will take place irrespective of whether the US banks participate or not. We are going to borrow $3 bln on the market this year. I think investors will show interest in Russian securities," Siluanov said.

On Thursday, the Wall Street Journal reported, citing informed sources, that the US government recommended large US banks to refrain from buying Russian government bonds.

According to the publication, the US banks received this recommendation from the State Department and the US Treasury, in response to Russia’s inquiry about possible participation of the banks in the placement of Russian securities. In particular, the authorities indicated that similar operations would contradict the sanctions policy toward Moscow.

Presidential aide Andrey Belousov earlier told reporters that such a move would not seriously complicate Russia’s entry to foreign loan market.

Sources told the Wall Street Journal Russia had invited such banks as Bank of America, Citigroup, Goldman Sachs, J.P. Morgan and Morgan Stanley to participate in the placement of its bonds.

Russia plans to borrow $3 bln as one tranche on foreign market in 2016 

According to the minister, Russia plans to borrow $3 bln as one tranche on the foreign market in 2016.

"We will place [bonds] and we are going to look for the room of opportunities for this placement, I am confident that we will borrow $3 billion in one tranche," he said.

Siluanov said that the finance ministry had sent invitations to 28 banks including 3 Russian ones.

"About half of the banks have come forward and are ready to participate in placement of our bonds," Siluanov said.

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