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Russia plans up to $4 billion of new notes
By Rebecca Melvin
New York, March 7 – The Russian Federation is offering up to $4 billion of new notes concurrently with a tender offer of its existing 2030 bonds, according to a news release.
VTB Capital plc is the deal manager for the new notes.
Russia is also tendering for its 7½% bonds due 2030 via an intermediated exchange. The maximum to be paid in the tender will be set equal to the gross proceeds from the new deal.
The tender will end at 11 a.m. ET on March 15.
Settlement is planned for March 21, and completion is conditioned on the new issuance.
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