17 June 2004 00:09
MOSCOW PLANS EUROBOND ROAD SHOW IN SEPT
"We are working on the Eurobond documents and work is going to
plan. The road show and all marketing events will take place in
MOSCOW. June 15 (Interfax) - Moscow government plans to hold a road show in September for its 380 million euro
seven-year Eurobond issue, which it plans to place at the beginning of October, Sergei Pakhomov, the head of the Moscow
State Debt Committee, reported.
September and the placement in early October," he said.
A decision on the exact terms for the new bond have not yet been
taken, he said. "The term will clearly be up to seven years. I am
The Budget Code says that Russian regions can raise foreign
borrowing in the amount of foreign debt repayments in the year of
The Eurobond issue may be slightly less than 380 million euros because the exact volume will depend on the exchange
rate closer to the time of placement, Pakhomov said.
inclined to favor seven years, but five-year bonds isn't bad either," he said.
repayment.
The new Moscow bonds will be used to refinance 350 million euros in three-year Eurobonds to be redeemed in October
2004 and various foreign currency bank loans.
[Interfax] |
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