Russian Railways selling 350 mln pound Eurobond

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The Russian Railways monopoly is selling 20-year British-pound-denominated Eurobond worth 350 million pounds, a source in the banking sector said on Friday.

The Russian Railways monopoly is selling 20-year British-pound-denominated Eurobond worth 350 million pounds, a source in the banking sector said on Friday.

"The bond is priced to yield 325 basis points more than Gilts [UK government bonds], or 7.5% of annual interest," the source said.

Russian Railways Vice President Vadim Mikhailov said earlier the monopoly planned to raise 500 million - 1 billion pounds via the Eurobond.

Technically, the bonds will be sold on the Irish stock exchange on March 25 after investors have settled accounts with the issuer, the source said.

This week, Russian Railways had a road show in Europe, with Barclays Capital, Goldman Sachs and VTB Capital as bookrunners together with Transcreditbank.

MOSCOW, March 18 (RIA Novosti)

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