29 Jul 2009 15:52

Moscow to auction 20 bln rubles in bonds Aug 5

MOSCOW. July 29 (Interfax) - The city of Moscow will auction bonds in the 56th series totaling 20 billion rubles on August 5, the city's committee for state borrowing said in a statement.

The bonds will circulate from September 22, 2008 through September 22, 2016.

The bonds bear 16 semiannual coupons. The rates of the first-seventh have been set at 8% annually and the eighth-sixteenth at 7%.

Moscow's borrowing program for 2009 totals 89.2 billion rubles, of which 86.7 billion rubles had been raised by July, the committee told Interfax. "The remaining 2.5 billion rubles will be raised during the August 5 auction," committee representative Tatyana Repina said.