Finance Ministry places 30 bln rubles in state savings bonds with yield at 12.11%
MOSCOW. July 17 (Interfax) - The Russian Finance Ministry on Friday placed 30 billion rubles worth of state savings bonds (GSO) series 35005 with permanent coupon yield, the ministry's international financial relations, state department and state financial assets department said in a statement.
Sberbank carried out the placement of the GSO 35005 under instructions from the Finance Ministry. The placement price was 99.9393% of face value, which corresponds to yield of 12.11% annually.
Each bond has face value of 1,000 rubles. They mature on February 12, 2013. The bonds have seven coupons with the first coupon period totaling 188 days and the remaining six 186 days each. Payments on the first coupon will be made on January 21, 2010. The rate of each coupon is 11.75%.
Potential investors in the GSO are Russian residents, insurance companies, non-state pension funds, shareholder investment funds, the Russian Pension Fund, other non-budget funds, management companies that manage pensions under agreement with the Pension Fund, and non-state pension funds.