The Finance Ministry has announced the start the exchange of two issues of Eurobonds totaling no more than U.S. $4 billion for other issues, the ministry said in a statement on Wednesday.
The ministry plans to exchange Eurobonds maturing in 2018 and 2030 for additional issues of Eurobonds maturing in 2027 and 2047. The buyback price of the 2018 Eurobonds should not exceed 107.8% of a face value, and the buyback price of the 2030 Eurobonds should not be more than 117.5% of a face value, the ministry said.
Owners of the Eurobonds that want to participate in the exchange should submit their bids to VTB Capital until September 19, and the buyback price will be defined on September 20 after the bid book is analyzed.
VTB Capital, GBP International, and Sberbank CIB will act as the organizers of the exchange.
Russia, the Russian Federation is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects. Russia is also the world's ninth most populous nation with 143 million people as of 2012. Extending across the entirety of northern Asia and much of Eastern Europe, Russia spans nine time zones and incorporates a wide range of environments and landforms.