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Bonds Placement On Asian Markets
December 5, 2014 11:33


The Ministry of Finance began to consider the placement of bonds on the Asian markets.

The Ministry of Finance does not exclude the possibility of placement of bonds on the Asian markets in order to create a benchmark for corporate bond placement. This was announced by Director of the Department of Long-Term Strategic Planning of the Ministry Maksim Oreshkin, as TASS reports. “In theoretical terms, we should not exclude it, but the benchmark (issue benchmark) will have smaller volume”- he said. “You can talk about the issue in other currencies. But the volumes are smaller not for attraction, but for other purposes.”

Besides, he stressed the fact that there the Ministry was not preparing anything in particular. According to him, Russia was not likely to place the traditional Eurobonds denominated in dollars and euros in the next year. “It is highly probable that we will not enter the foreign market in this situation” - RIA Novosti quoted the words of Maksim Oreshkin.

He called the level of interest rates when Russia is trading at a higher percentage than Turkey to be unacceptable. “In summer we will decide, whether we should refuse or not. If we refuse, we will transfer the volumes to the domestic debt program” - the representative of the Ministry of Finance said. On December, 2 the Head of “VTB Capital” Yuri Solovyov told in an interview with “Kommersant” that the company applied to the Ministry of Finance with the proposal to place the bonds on the Asian markets. “I think it would help the Russian issuers if Russian government Eurobonds were first released in Asian currencies, then a benchmark would appear” - he said.

Earlier the First Deputy Chairman of the Bank of Russia Ksenia Yudaeva told that now there was no shortage of foreign currency liquidity. “Interventions carried out by the Bank of Russia in October currently provide for the market demand for currency. There is no currency liquidity deficit at the moment” – Yudaeva stated. The RF borrowing program allows for an opportunity to attract $ 7 billion of foreign loans in the next year. The domestic loans of Russia for 2015 are planned at the level of about 800 billion roubles.

Author: Anna Dorozhkina

Tags: Bonds Russia International Russian economy   

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