UPDATE4: Source: Demand for Eurobonds exceeds 2.5 bln euros, $5.5 bln

(Adds details in paragraph 3)

LONDON, Mar 21 (PRIME) -- Demand for Russia’s dollar Eurobonds has exceeded U.S. $5.5 billion and is over 2.5 billion euros for euro Eurobonds, a financial market source told PRIME on Thursday.

Yield guidance for dollar Eurobonds was lowered to 5.125–5.25% from 5.5% and for euro Eurobonds to 2.375–2.5% from 2.625%.

The euro-denominated Eurobond may amount to 500–750 million euros, the source also said.

The Finance Ministry is collecting bids for new dollar Eurobonds maturing in March 2035 and additional placement of euro Eurobonds maturing in 2025. VTB Capital and Gazprombank act as organizers.

The ministry placed 1 billion euro Eurobonds maturing in December 2025 at 3% annually in November 2018.

The 2019 budget encompasses foreign borrowings of up to U.S. $3 billion and Eurobond offering of up to $4 billion.

End