RZD Approves 150 Billion Ruble Bond Program

The Board of Directors of the state carrier Russian Railways (RZD) has approved a bond issue program worth up to 150 billion rubles, or equivalent in foreign currency, the company said Tuesday.

MOSCOW (Sputnik) — The company announced citing the Board decision:

“The maximum total nominal value of the bonds to be placed under the new program is 150 billion Russian rubles or its equivalent in a foreign currency.”

The maximum maturity of the securities is up to 40 years, while the program is described as “indefinite-term.”

“This is a framework program. The bonds will be placed as necessary,” RZD told RIA Novosti.