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Russia placed Eurobonds worth $4 bln - Finance Ministry

March 17, 5:04 UTC+3 MOSCOW

The funds raised via the placement of Eurobonds ($ 3.2 bln) will be used to buy back Russia-30 bonds

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© REUTERS/Maxim Shemetov

MOSCOW, March 17. /TASS/. Russia’s Finance Ministry placed two issues of Eurobonds for the total sum of $4 bln on Friday, the ministry said in a statement on its website.

In particular the ministry placed Russia-29 Eurobonds worth $1.5 bln at 4,625% per annum and Russia-47 Eurobonds worth $ 2.5 bln at 5.25% per annum.

The Russia-29 issue has the coupon rate 4.375% per annum, for the Russia-47 issue the coupon was set at 5.250% per annum.

The funds raised via the placement of Eurobonds ($ 3.2 bln) will be used to buy back Russia-30 bonds.

On March 7, the Russian Finance Ministry opened a bid book for exchange of sovereign Eurobonds mature in 2030 (Russia-30) in the amount of $4 bln on March 7. VTB Capital acts as an organizer.

The bonds are placed using the infrastructure of the National Settlement Depository (NSD) and Euroclear.

Earlier, the Finance Ministry noted that Eurobonds that are issued in 2018 will be used to return capital to Russian businessmen. Finance Minister Anton Siluanov also noted that foreign investors are important to the ministry, but in this case, priority will be given to Russian investors. The budget of the Russian Federation for 2018 provides for external borrowings totaling $7 bln. The ministry plans to use $4 bln of this amount to exchange old Eurobond issues for new debt securities.

Earlier it was reported, that the Finance Ministry is preparing a bill that will free individuals from personal income tax on sovereign Eurobonds issued after January 1, 2018. Initially, the tax benefit for the amount of exchange rate difference was planned only for sovereign the Eurobonds for 2018. The ministry will use these securities to ensure the return of capital by Russian businessmen who keep their money abroad to the country.

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