State-run Russian Railways plans to issue a two-tranche eurobond worth at least 500 million Swiss francs ($539 million), IFR said Tuesday.
IFR, a Thomson Reuters news and market analysis service, said Russian Railways opened books for five-year and eight-year tranches.
Russian Railways said in December that it planned to borrow 203 billion roubles ($6.7 billion) in 2013.
Russian borrowers raised a total of about $53 billion via eurobond issues last year and have been opening books this year to profit from positive risk sentiment toward emerging markets.
A banking source said Tuesday that Russian Agricultural Bank, also known as RSHB, opened books for a five-year ruble-denominated eurobond issue of a benchmark size — or at least $500 million for the names of its size.
(Reuters)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
