Russia"s plans to take out foreign loans...

Russia is scheduled to hold a road show of its Eurobond issue on April 21-22 in New York as the country is returning to world capital markets in the capacity of a sovereign borrower for the first time in the past twelve years to bridge budget holes, Kommersant said.

However, the Eurobond issue parameters are yet unknown as the Russian government"s debates over Russia"s budget and tax policy for the next three years leave the size of the budget deficit uncertain, while high oil prices have reduced the country"s need for foreign borrowing to the minimum, the paper said.

The news of the road show was announced by Russian Finance Minister Alexei Kudrin on Friday. He did not give any details, but said that net borrowings could reach a total of 1.5 trillion rubles ($50 billion) in 2010, both domestically and internationally.

The sum of 1.5 trillion rubles in borrowings is the maximum amount stipulated in the 2010 budget and includes 869 billion rubles ($29 billion)

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Family Offices Asia commented:

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17.05.2012