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. Last Updated: 07/27/2016

State to Hold Eurobond Roadshow in London

The government will hold a roadshow in London to promote a planned $17.8 billion eurobond issue, Deputy Finance Minister Dmitry Pankin said Tuesday.

The roadshow will take place before a G20 meeting scheduled in London on Nov. 7, Pankin said. The eurobond issue would be Russia’s first in 10 years.

Speaking at an International Monetary Fund meeting in Istanbul, Pankin said there was a great deal of interest in a Russian issue of eurobonds.

“We feel that investors have an enormous appetite for Russian paper,” he said. “This is because the financial situation is gradually improving, stabilizing. The question of where to invest money is beginning to arise.”

Developing market countries like Russia can offer investors higher yields than the United States and Europe.

Yields on Russia’s eurobonds have been falling in the last few months, Pankin said. “This means that investors are buying them,” he said.

The Finance Ministry could issue the bonds by February 2010, Pankin said. The process of selecting banks that will conduct the issue could begin by next week, he said.

“If it’s a multi-billion dollar issue, there will probably be not one, but several, lead managers,” Pankin said.