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The Russian Finance Ministry will hold auctions on April 19 to place federal loan bonds (OFZs) with different maturities
The Russian Finance Ministry will hold auctions on April 19 to place federal loan bonds (OFZs) with different maturities, the Central Bank said Monday. The Finance Ministry will float OFZ-ADs (debt-depreciation coupon-income federal loan bonds) of additional issue No. 46020 to a total of 9 billion rubles (about $325 million), maturing on February 6, 2036. The issue will be redeemed by equal portions of 25% of par value on August 9, 2034, February 7, 2035, August 8, 2035, and February 6, 2036. The Finance Ministry will pay the first coupon at 6.95 percent p.a. on August 16, 2006. The first coupon payment will be 34.65 rubles (about $1.25) per bond. The Finance Ministry will also place OFZ-PDs (permanent-interest coupon-income federal loan bonds) of additional issue No. 25059 worth 11 billion rubles (about $397 million) maturing on January 19, 2011. The ministry will pay the first coupon of 6.1 percent p.a. on April 26, 2006. Bonds will have a coupon income of 15.21 rubles each (about $0.54). The bonds will have par value of 1,000 rubles (about $36). Non-competitive bids will not exceed 25% of the total amount of bids to be submitted.
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