Rus­sia ap­proaches banks for Eurobond sales

The Pak Banker - - FRONT PAGE -

MOSCOW: Rus­sia sig­naled a pos­si­ble re­turn to the Eurobond mar­kets af­ter a 29-month hia­tus as it in­vited banks to bid for a role in or­ga­niz­ing the sale. The Fi­nance Min­istry sent its re­quests for pro­pos­als to 20 for­eign banks, in­clud­ing the Bank of China and Gold­man Sachs Inc., and three lo­cal lenders, Sber­bank PJSC, VTB Group and Gazprom­bank JSC, ac­cord­ing to a state­ment on its web­site. No de­ci­sion has been taken on what form the debt may take or when or whether it will be is­sued, Fi­nance Min­is­ter An­ton Silu­anov told re­porters. Rus­sia, which has not is­sued for­eign-de­nom­i­nated debt for more than two years as sanc­tions were im­posed on some of its com­pa­nies and in­di­vid­u­als and yields rose, has bud­geted for a place­ment of as much as $3 bil­lion in Eu­robonds this year.

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