Russia awaits orders on $7 billion in Eurobonds | Russia Beyond The Headlines:
"The Ministry of Finance has placed four Eurobond tranches for a total of $7 billion. These include 5-year U.S. dollar denominated bonds for $1.5 billion at 3.7 percent per annum, 10-year bonds for $3 billion at 5.1 percent, 30-year bonds for $1.5 billion at 6.05 percent, and 7-year euro denominated bonds for €725 million ($961.1 million) at 3.7 percent.
Investors had been waiting for this offering since last spring. The Ministry of Finance was dragging its feet, trying to pick the best time, but the market took a turn for the worse when the Fed warned of a forthcoming end to its super accommodative monetary policy.
The Ministry of Finance was right to have waited: Demand for its debt outstripped supply almost three-to-one ($20 billion vs. $7 billion), employees of two underwriting banks said. One said that investors from all over the world had sent in bids."
'via Blog this'
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