RZD wants to place 70 bln rubles in bonds and $1 bln in Eurobonds in 2012 - source
MOSCOW. Nov 2 (Interfax) - OJSC Russian Railways (RZD) plans to place 70 billion rubles in ruble-based bonds and $1 billion in Eurobonds in 2012, a source informed about the railway company's plans told Interfax.
Commenting on ruble-based borrowing, the source said that investors should expect to see offers for 10-year bonds.
RZD's general borrowing plans for 2012 come to 100.3 billion rubles.
The source said that three quarters of the funds RZD borrows next year might go towards financing its 411.6 billion ruble investment program. In addition to loans, RZD hopes to receive 79.125 billion rubles in state subsidies for financing its investments next year. In addition, the company intends to earmark almost 256.8 billion rubles of its own funds for capex.