Russian Finance Ministry Placing 15-Year Eurobonds Worth $1.22Bln at 2.65% Yield - Source

MOSCOW (Pakistan Point News / Sputnik - 20th May, 2021) The Russian Finance Ministry is placing new 15-year eurobonds in the amount of 1 billion Euros ($1.22 billion) with a yield of 2.65 percent, a source told Sputnik.

In addition, Russia will place bonds maturing in November 2027 worth 500 million euros at a price of 98.5 percent of nominal. Thus, the total amount of funds raised is 1.5 billion euros.

The final volume of investor demand for new securities exceeded 1.4 billion euros and for additional securities to be placed amounted to over 700 million euros.

The initial benchmark for the yield of new eurobonds maturing in 2036 was about 2.875 percent, but was reduced to about 2.7 percent (plus or minus 5 basis points), the benchmark for the price of additional securities was at least 98.5 percent.

On Tuesday, the Russian Finance Ministry announced that it had chosen VTB Capital, Gazprombank and Sberbank CIB as the organizers of the placement of Russian eurobonds in 2021.