May 23, 2016 / 9:55 AM / 3 years ago

Russia starts 10-year Eurobond placement - prospectus

MOSCOW, May 23 (Reuters) - Russia has started placement of a 10-year dollar-nominated Eurobond on Monday, first since the country was put under Western sanctions over its role in the Ukraine crisis, according to a prospectus obtained by Reuters on Monday.

According to the prospectus, the finance ministry said it would not use proceeds from Eurobond to help companies, which were subject to sanctions. The ministry is offering a yield of 4.65-4.90 percent, two banking sources said.

The finance ministry said in a statement on its website that VTB Capital is the arranger of the deal. VTB Capital is a banking unit of state bank VTB which is under Western sanctions. (Reporting by Kira Zavyalova and Oksana Kobzeva; writing by Katya Golubkova; editing by Polina Devitt)

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