Russian Finance Ministry Prepares New OFZ-PK Issues Worth 1.5 Trln Rubles

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Russian Ministry of Finance Prepares New Issues of OFZ-PK Bonds Worth 1.5 Trillion Rubles

The Russian Ministry of Finance is preparing new issues of floating-rate OFZ bonds (OFZ-PK) worth 1.5 trillion rubles at nominal value.

Two bond issues are being offered for placement: Issue No. 29030RMFS (maturing in October 2037) with a nominal value of 500 billion rubles and Issue No. 29031RMFS (maturing in July 2042) with a nominal value of 1 trillion rubles.

The coupon rates for these OFZ-PK issues will be based on the published values of the three-month forward version of the RUONIA (Ruble Overnight Index Average) rate on the official website of the Bank of Russia, as of the date seven calendar days prior to the end of the corresponding coupon period.

The dates of auctions for these OFZ-PK issues will be determined after the Ministry of Finance makes a decision to resume auctions for OFZ bond placements, taking into account market conditions.

This overview was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.