Finance Ministry plans to issue OFZ bonds for households in Sep

MOSCOW, Aug 27 (PRIME) -- Russia’s Finance Ministry plans to issue no more than 15 billion rubles of OFZ federal bonds for households in September, the same amount as last time, Deputy Minister Sergei Storchak told reporters on Tuesday.

“We will launch it in autumn, in September. I will not mention the exact date right now. We are trying to catch the bird by its tail, as we want to understand the right moment for us to enter the market so that it is comfortable for us and so that we don’t exploit excessive resources without a good payoff,” he said.

He did not disclose the exact sum that the ministry plans to offer, but said that it will not be higher than the previous issue.

The ministry started offering 15 billion rubles of OFZ bonds for household in late April 2017. Demand was high during the first placement, but it decreased with time. The ministry renewed the instrument in March 2019 in order to raise attractiveness and sales of the bonds, reducing the minimum sum of purchase to 10,000 rubles from 30,000 rubles, and making Promsvyazbank an agent bank to sell the bonds in addition to Sberbank and VTB Bank.

(65.9735 rubles – U.S. $1)

End