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Russian investors to be given priority on sovereign Eurobond issuance — finance minister

December 22, 2017, 12:00 UTC+3

There is no target to sell the whole amount of $1 bln worth of sovereign bonds planned for 2018 to Russian investors, though the ministry will focus on their demand, the minister said

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MOSCOW, December 22. /TASS/. Foreign investors are important for Russia regarding sovereign Eurobond issuance, though local investors will be given priority, Finance Minister Anton Siluanov said Friday.

"Local investors will be allowed to buy those Eurobonds," he said, adding that "it is important to ensure that foreign highly-qualified investors make bids, though in this case local investors will be given priority."

Local infrastructure

Russia’s Finance Minister will issue sovereign Eurobonds via local infrastructure, the Minister Anton Siluanov said Friday, adding that Russian banks will be organizers.

"Eurobonds will be issued using Russian infrastructure - Russian banks and the NSD (National Settlement Depository - TASS), which will take into consideration all bond obligations," he said, adding that "Russian investors will be also permitted to buy Eurobonds next year."

There is no target to sell the whole amount of $1 bln worth of sovereign bonds planned for 2018 to Russian investors, though the ministry will focus on their demand, he said, adding that depending on this the ministry would decide whether to reduce domestic borrowings and increase Eurobond issuances or vice versa.

"That is why if the demand is there we will issue beyond $3 bln since we have this right to reduce domestic borrowings or increase Eurobonds. We will also be attracting foreign investors as they are a key indicator for us," Siluanov said.

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