Official: Russia unlikely to borrow in China in 2016

MOSCOW, Feb 17 (PRIME) -- Russia is more likely to borrow on traditional markets than in China in 2016, Deputy Finance Minister Sergei Storchak told reporters on Wednesday.

Acquisition of Russian state bonds is not prohibited by Western sanctions but according to an earlier statement of Storchak, sanctions can affect investors.

“The possibility that we will offer bonds on traditional markets is higher than on new markets, than on the Chinese market,” Storchak said. “We have been preparing our return to the Eurobond market for two years, at least. The same is here.”

On February 5, the ministry sent a request to 20 foreign and three domestic banks – including Barclays, BNP Paribas, Bank of America Merrill Lynch, Bank of China, Sberbank CIB, Gazprombank, and VTB Capital – seeking provision of services for the placement of Eurobonds in 2016.

Bank of China is interested in leading Russian Eurobonds in 2016, Du Qingzhi, advisor to the president of the bank's Russian unit, said last week.

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