LONDON, Sept 20 (IFR) - Russia has opened books on a reopening of its US dollar bonds due June 2027 and June 2047, according to a lead.
The sovereign is marketing a tap of its US$1bn 4.25% June 2027s at 3.98%-4.03%, and a tap of its US$2bn 5.25% June 2047s at 5.17%-5.22%.
The proceeds will be used to finance a tender offer on Russia’s outstanding US dollar bonds due 2018 and 2030.
The deal is today’s business via Gazprombank, Sberbank CIB and VTB Capital (B&D).
Russia is rated Ba1 by Moody’s, BB+ by S&P and BBB- by Fitch. (Reporting by Robert Hogg; editing by Sudip Roy)