On Eurobonds of Russia there were no foreign buyers – media

На евробонды России не нашлось иностранных покупателей - СМИ

Russia issues bonds

Moscow extends the collection in anticipation of Asian investors.

Almost all applications for Eurobonds of Russia came from Russian investors, not from foreign relied as Moscow, so the Finance Ministry decided to extend their collection until 24 may. This writes Vedomosti, citing sources in the Ministry and investable.

It is noted that applications filed at $ 5.5 billion, although the budget for 2016 is only three billion dollars of foreign loans).

Experts believe that a weak interest of foreign investors to Russian securities can be explained by the lack of premarketing or road show for the usual market offerings.

In addition, access to securities foreign investors oslojnyaetsya the fact that the clearing of new securities will conduct the Russian national settlement Depositary, Euroclear and not.

“European and American investors all the time figured out whether they can buy the securities if they will be stored in NSD. Technically this is possible,” said a source close to the organizer VTB Capital.

Earlier today it was reported that Russia is not closing fees, in spite of excess demand is five times the offer, expecting investors from Asia.

The last time Russia issued government bonds in 2013 in the amount of 11.4 billion dollars. By the end of 2015 securities offered investors for 21.1 percent of the profits.

On 23 may, Russia announced plans to place the issue of ten-year sovereign Eurobonds, nominated in US dollars.

On 15 March it became known that the European Union has urged banks to refrain from placement of Russian government bonds in support of sanctions against Russia.

Then it was noted if the European banks refuse Russian bonds, then Moscow will be forced to abandon its first attempt to enter the capital markets after the annexation of Crimea.

Russian government bonds also declined and American big banks Citigroup, Bank of America, JP Morgan Chase, Goldman Sachs, Morgan Stanley and Wells Fargo.

In late February, the Wall Street Journal wrote that the us government has recommended some major US banks to buy government bonds of Russia.

In the state Department and the US Treasury saying that buying bonds would be contrary to the principles of the sanctions policy.