Russia's Finance Ministry to place $370-mln in OFZ-AD bonds

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MOSCOW, July 14 (RIA Novosti) - The Russian Finance Ministry will float September 13 additional debt amortization federal loan bonds (OFZ-AD) worth 10 billion rubles (about $370 million), the ministry said Friday.

The Finance Ministry will place Series 46018RMFS permanent coupon income bonds, maturing on November 24, 2021, on the Moscow Interbank Currency Exchange, the Bank of Russia (CBR) said.

The bonds have par value of 1,000 rubles (about $37) each. The seventh coupon will be paid December 13, 2006 at an interest rate of 9% per year, yielding an income of 23.68 rubles ($0.88).

The bonds will be offered to residents and nonresidents through official government securities market dealers, the CBR said.

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