Vnesheconombank: Domestic Market of Russia's Eurobonds is Very Promising

According to Alexei Akinshin, Director, Foreign Currency Operations of Vneshtotgbank, the domestic market of Russia's eurobonds is very promising. Mr. Akinshin said, "The level reached by Russia's stock and securities' markets has far exceeded the expectations of foreign analysts" and "Russian funds develop ahead of schedule, while the development of eurobonds' market will continue both in Russia and elsewhere". Mr. Akinshin further said Russian eurobonds would contribute to the optimisation of the country's both domestic and foreign debts and that the problem of Russia's debts could not be resolved if unconnected to the development of securities' markets. The first bilateral transaction involving Russia's federal eurobonds was completed on Russian stock exchange on April 23. The eurobonds issued by Russia's Ministry of Finance will mature and be cancelled in 2030. The batch worth $ 1 million at face value was sold at 70.25% of that, the accumulated worth of the coupon not included.