The leasing company, which is owned by Russian government-controlled Vnesheconombank (VEB
), will issue the bonds in four tranches on 6 July 2012.
'Our target is diversifying the placement of the fund's reserves,' Kudrin said, adding that VEB
would decide how the money was invested.
's first deputy chair, Nikolai Tsekhomsky, said, 'We are considering various options for selling our stake, we are interested in divesting it.
This came after sources told Prime on Tuesday that VEB
intended to issue eurobonds with a yield of 455.0 basis points to US Treasuries, but later lowered the yield to 445.6 basis points.
At present, Svyazinvest holds 43.37% in Rostelecom and VEB
owns a 2.43% stake in it.
last tapped foreign capital markets in February when it issued five-year eurobonds worth USD750m (EUR600m) at 5.357% a year.
Russian Prime Minister Vladimir Putin, who is also VEB
chairman, and German Chancellor Angela Merkel may touch on the subject on Friday during their meeting in Germany, Reuters added.
The Russian central bank is to offer options for VEB
, which is said to be in the midst of a capital shortfall.
M2 EQUITYBITES-June 26, 2012--Russia's VEB
to launch 10-year eurobond issue(C)2012 M2 COMMUNICATIONS http://www.m2.com
BANKING AND CREDIT NEWS-May 18, 2012--HSBC lends USD47.5m to Russian VEB
for Bryansk meat complex(C)2012 M2 COMMUNICATIONS http://www.m2.com
The supervisory board of Russian lender Vnesheconombank (VEB
) has approved an option to shed some 10% in telecom Rostelecom (MCX:RTKM) to state-run telecom holding Svyazinvest, VEB
's chairman Vladimir Dmitriyev was cited by Russian papers RBC Daily and Vedomosti as saying on Friday.