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. Last Updated: 07/27/2016

Lire Bond Nets $230M

MOSCOW -- Moscow appealed to Italian investors for money this week, raising 400 billion lire ($230.2 million) to help renovate Russia's capital in one of the largest lira Eurobond sales by a municipality.

The city this week sold three-year bonds at 525 basis points more than comparable Italian interest rates -- or 10.02 percent -- in its second Eurobond sale this year. Moscow plans to use the money to refurbish the Gostinny Dvor shopping mall near Red Square and the Olympic Village complex of stores and apartments at the city's edge.