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Russia: More Eurobond Issues Planned

  • Stephanie Baker

Moscow, 3 February 1997 (RFE/RL) - Russian Finance Minister Aleksandr Livshits today announced that the government will organize two to three Eurobond offerings this year, following its successful debut on the international market last year.

Livshits told the Interfax news agency that the government will offer a 1,000 million German mark Eurobond issue by the end of the first quarter of this year. But he said the exact amount the government would float might change.

Livshits said the Eurobond offer would be organized by two leading international investment banks -- Deutsche Morgan Grenfell and Credit Suisse First Boston. Livshits said he expected Russia's new round of Eurobond offerings to be as successful as its first offering last November. Russia floated a 1,000 million dollar Eurobond in November.

Livshits said the revenues raised from the offering would be used to resolve social problems, including the payment of salary and pension arrears.