22 Mar 2011 13:52

Russia's MinFin to hold placement for 25 bln rubles for OFZ 26204 on Mar 23

MOSCOW. March 14 (Interfax) - Russia's Finance Ministry will hold an auction for the sale of Federal Loan Bond with constant coupon yield (OFZ-PD) series 26204 worth 25 billion rubles on March 23, the Central Bank of Russia said in a statement.

If market demand for the OFZ placement is high and exceeds the proposed amount, the MinFin retains the right to satisfy applications that offer a yield that falls in line with the ministry's guidance on the issue.

OFZ 26204, which matures on March 15, 2018, has 14 semiannual coupon periods. The first payment on coupon yield is slated for September 22, 2011. The coupon rate was set at 7.5% (first coupon - 37.6 rubles per, coupons two through 14 - 37.4 rubles per).