Russia to tap twice as rates outlook trumps sanctions fears

Moscow Russia 230px
By Francesca Young
20 Jun 2019

The Russian Federation is to increase its its 2029 and 2035 dollar bonds as the risk of further US sanctions against the country recedes and the prospect of lower of US interest rates has increased demand for the debt.

The country, rated Baa3/BB-/BBB-, last tapped the international bond markets in November for a €1bn 2.875% 2025 deal.

For this outing, the sovereign is increasing its $1.5bn 4.375% 2029s and $3bn 5.1% 2035s.

Initial price guidance was set on Thursday morning for the 2029s tap at 4% ...

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