ST. PETERSBURG, June 7 (RIA Novosti) - The Russian Agricultural Bank, the country's largest state-run banking institution extending loans to domestic agribusiness, could place an additional $1 billion in Eurobonds, the bank's CEO said on Sunday.
"Our placement on the market will depend on the market situation and demand for bond issues. I can't answer exactly the question on the possibility of borrowing money through Eurobonds. But if we resort to borrowing, we will seek only long-term funds with maturities between five and 10 years," Yuri Trushin told the World Grain Forum in St. Petersburg.
The Russian Agricultural Bank, the country's third largest bank in terms of equity, placed Eurobonds worth $1 billion at a fixed interest rate of 9% per annum on June 4.
Trushin said Russia still lacks sources of long-term borrowing, forcing the country to seek loans on the international market.
He said the Russian Agricultural Bank was expected to extend 400 billion rubles ($9.4 billion) in loans to domestic agricultural producers in 2009.
