Russian Railways to issue Eurobonds, loan

Russian Railways will issue $7bn of Eurobonds and more than $3bn equivalent in rouble paper by the end of 2010, according to newspaper reports today. The company has Rb162bn ($6.5bn) of debt, which will rise to Rb385bn by the end of 2010. Bank of Tokyo-Mitsubishi, Barclays Capital, BBVA, BNP Paribas, ING, Unicredit Group and WestLB have been mandated to arrange a $1bn syndicated loan for the company.