New Issue: Russia auctions RUB 23.03 billion of bonds in two tranches

By Tali Rackner

Norfolk, Va., July 13 – Russia auctioned RUB 23,028,000,000 of bonds in two tranches on Wednesday, according to two announcements from the Russian Ministry of Finance.

Russia auctioned RUB 8,028,000,000 of bonds due Jan. 29, 2020. The cut-off price was 103.16, and the yield at the cut-off price was 11.28%.

The weighted average price was 103.2656 for a yield at the weighted average price of 11.24%.

Russia initially offered RUB 10 billion of bonds, received bids for RUB 17,764,000,000 and took in net proceeds of RUB 8,718,000,000.

It also auctioned RUB 15 billion of bonds due Sept. 17, 2031. The cut-off price was 101.01, and the yield at the cut-off price was 8.55%.

The weighted average price was 101.1351 for a yield at the weighted average price of 8.54%.

Russia received bids for RUB 25,306,000,000 and took in net proceeds of RUB 15,513,000,000.

Issuer:	Russia
Amount:	RUB 23,028,000,000
Auction date:	July 13
2020 bonds
Amount:	RUB 8,028,000,000
Net proceeds:	RUB 8,718,000,000
Maturity:	Jan. 29, 2020
Cut-off price:	103.16
Yield at cut-off price:	11.28%
Weighted average price:	103.2656
Yield at weighted average price:	11.24%
2031 bonds
Amount:	RUB 15 billion
Net proceeds:	RUB 15,513,000,000
Maturity:	Sept. 17, 2031
Cut-off price:	101.01
Yield at cut-off price:	8.55%
Weighted average price:	101.1351
Yield at weighted average price:	8.54%

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