September 25, 2017 / 8:18 PM / 3 months ago

Russia says completes Eurobond swap

MOSCOW, Sept 25 (Reuters) - Russia’s finance ministry said on Monday it had completed a swap of Eurobonds maturing in 2030 for new bonds dated 2027 and 2047, helping to trim its debt servicing costs.

The ministry said that Russia’s external debt payments would be reduced by $1.18 billion in 2017-2019 as a result of the swap, which was organised by state lenders Sberbank and VTB as well as Gazprombank.

The finance ministry had planned to swap 2018-dated Eurobonds as well but said in a statement on Wednesday evening that bids had not matched levels it considered acceptable. (Reporting by Olesya Astakhova; writing by Vladimir Soldatkin; Editing by Catherine Evans)

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