RZD plans to place 12 exchange bond issues totaling 300 bln rubles
MOSCOW. April 23 (Interfax) - The board of directors at Russian railway monopoly OJSC Russian Railways (RZD) has decided on the placement of exchange bond issues BO-09 through BO-20 totaling 300 billion rubles, the company said.
The issues are planned for placement in open subscription.
Each bond series is of 25 billion rubles. Face value is 1,000 rubles per bond. The circulation period is 15 years for series BO-09-BO-11, 20 years for BO-12-BO-14, 25 years for BO-15-BO-17, and 30 years for BO-18-BO-20. The bonds carry semiannual coupons.
A source on the RZD board of directors told Interfax that these are non-market bonds that will be placed to raise money for company infrastructure projects on behalf of Vnesheconombank.
RZD currently has 14 issues of classic bonds totaling 205 billion rubles in circulation.
