15 June 2004 22:04
Finance Ministry plans ruble bond issues for 2005
MOSCOW. June 15 (Interfax) - The Finance Ministry plans to place 18 billion to 20 billion rubles in GKO bonds, 158
billion to 160 billion in OFZ bonds and 53 billion to 55 billion in government savings bonds (GSO) in 2005, materials
submitted to the government with 2005 budget parameters say.
The GKO bonds will have terms of up to one year and yield of up to 6%. They should raise 16.4 billion rubles for the
budget in 2005.
Yield for mid-and long-term instruments is planned at 7% to 10%. The ministry expects to raise 73.3 billion rubles in
fixed coupon OFZ (OFZ-FK), 70.8 billion rubles in amortization bonds (OFZ-AD) and 50 billion rubles in GSO.
"About 92% of the planned borrowing will come from mid-and long- term instruments in 2005," the ministry
says.
The ministry plans to place indicative bond issues with 3 to 15 year terms, and small volumes of short-term bonds
with terms of up to one year. The need for short-term instruments can be met through Central Bank of Russian
operations.
The market component of government domestic debt by January 1 2006 will top 600 billion rubles, of which over 90%
will consist of mid-and long-term instruments. [RU ASIA EUROPE EEU EMRG GVD ECI] me
[Interfax] |
RUSSIA IN FACTS
