Moscow to place 19.7 bln rubles in 48th, 66th series bonds Sept 8
MOSCOW. Aug 31 (Interfax) - The city of Moscow will be auctioning bonds in its series 48 and 66 issues on September 8, the city's borrowing committee, Moskomzaim, said in a statement.
Investors will have the chance to acquire 9.697 billion worth of the 30 billion-ruble series 48 bonds at one auction, and 10 billion rubles (also of 30 billion) worth of series 66 bonds at a second.
The series 48 bonds mature June 11, 2022. The bonds carry a total of 31 semiannual coupons, the rates on which are: 8% per annum for coupons 1-11, 7% for 12-21, and 6% for 22-31.
The series 66 bonds mature November 23, 2018, and carry quarterly coupons. The determined rates on those coupons are: 13% for coupon 1, 9.75% for 2, 9% for 3, 8.75% for 4, and the rates for coupons 5-36 have yet to be determined.
Since this year began, Moscow has raised 39.4 billion rubles to finance the state domestic borrowing program by placing bonds. The Russian capital's state debts could reach almost 440 billion rubles by the end of the year, Moskomzaim chief Sergei Pakhomov said in July.
The Moscow city administration announced in early August that it was cutting its securities-placement plans for 2010 by 9.727 billion rubles, or 4%, to 225.207 billion rubles.