Russian Railways to launch bond issue today
Russian Railways will start floating series 08 bonds with a total nominal value of RUB 20bn (approx. USD 851.06m) on MICEX today, RBC reports. The company is set to place 20m bonds with a face value of RUB 1,000 (approx. USD 42.55) each by public subscription. The bonds mature in three years. The issue was arranged by Bank VTB, Gazprombank, TransCreditBank and Troika Dialog, and the bid book was closed on July 7, 2008. The coupon rate is set at 8.50 percent.