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.
VEB'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.
VEB 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.
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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.