Russian finance minister says conditions are good for possible Eurobond issue

June 8, 2019

ST PETERSBURG (Reuters) – Russia is considering issuing a sovereign Eurobond as market conditions are currently favorable, Finance Minister Anton Siluanov said at an economic forum.

“We would have borrowed now probably on better terms that at the beginning of the year,” Siluanov told reporters on the sidelines of the forum late on Friday.

Siluanov declined to say if that could happen this month or later.

VTB Capital, the investment bank that organized Russia’s latest Eurobond issues, also told Reuters this week that market conditions were favorable for a Eurobond issue.

Speaking about oil, Siluanov said it would not be fair for the Russian government to compensate oil companies for shortfalls that they might face because of the global deal to cut production that Russia and other major crude producers have signed.

The head of Russian oil giant Rosneft, Igor Sechin, said earlier this week the company was discussing possible compensation with the government in the event that a global deal to cut supply is extended.

(Reporting by Darya Korsunskaya; Writing by Andrey Ostroukh; Editing by Elaine Hardcastle)

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