MOSCOW, July 13 (RIA Novosti) - The Russian Railways joint-stock company is going to issue bonds worth 12 billion roubles ($1 equals about 30 roubles) and Eurobonds to the volume of up to $1 billion, Vice President of the Russian Railways Fedor Andreyev told reporters on Tuesday.
"In September-October 2004, we are going to offer the market three issues of bonds to the sum of $4 billion roubles each for one, three and five years respectively," said Andreyev.
Moreover, he said that Russian Railways planned to hold a tender among banks to organise the issuing of Eurobonds. "Only through the tender will we be able to determine the volume and structure of the issue," said Andreyev.
"However, already now we can say that these will be bonds totalling $500 million - $1 billion for the term of 5-10 years," said the vice president of the Russian Railways.
He expressed his confidence that European investment funds would become the main buyers of the bonds.
