Min: Russia may not need second Eurobond placement in 2016

MINSK, Jun 8 (PRIME) -- The Russian government will decide on placing more Eurobonds in 2016 depending on budget revenue and possibilities of the local market, Finance Minister Anton Siluanov told reporters Wednesday.

In May, Russia placed U.S. $1.75 billion of 10-year Eurobonds at 4.75% annually. In accordance with the budget, the Finance Ministry may borrow up to $3 billion from foreign markets in 2016.

The ministry has the right to replace foreign borrowings with domestic debt and vice versa, Siluanov said.

“That’s why this year we will decide basing on our activity on the domestic market. It is possible that we will not need to approach the foreign market,” he said.

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