RZD to place four tranches of non-market bonds worth 100 bln rubles next year
MOSCOW. Dec 10 (Interfax) - OJSC Russian Railways (RZD) plans to place 100 billion rubles in four tranches of non-market (infrastructure) bonds in 2013, the deputy head of the company's department for corporate finance, Pavel Ilichev, said at a press conference on Monday.
"As far as borrowing goes, 203 billion rubles, 100 billion rubles of which will be raised through infrastructure bonds," Ilichev said.
He added that the remaining funds will be raised through market borrowing such as Eurobonds, corporate and exchange bonds, as well as other instruments.
Ilichev said that 100 billion rubles in infrastructure bonds are also planned for 2014-2015. RZD is mulling the option of placing a portion of the bonds slated for 2014 at the end of 2013.
Ilichev said that total borrowing in 2014-2015 will be lower than in 2013. "According to our preliminary views, in absolute figures, we will draw less in 2014-2015 than in 2013. 2013 is the peak," he said.
He added that the company's financial plan is still based on a conservative view on how RZD's program will be formed.