By Andrei Skvarsky
Russian railway monopoly RZD is planning to sell seven-year dollar bonds ahead of the state’s first foray into the sovereign eurobond market in over decade.
The state-owned railway monopoly is holding investor meetings in Europe this week organised by Barclays Capital, JPMorgan Chase and VTB Capital ahead of the sale, which will be benchmark in size, The Moscow Times cited a banker with knowledge of the plan as saying.
The transaction would precede Russia’s first sale of foreign-currency bonds since 1998, when the government defaulted on $40 billion of domestic debt and devalued the rouble.
RZD chief executive Vladimir Yakunin earlier said the company might seek to sell 10-year bonds for a total of $1 billion.
