Bloomberg News

Russia May Add OFZ Bond Auctions After Dec. 7, Vyshkovsky Says

November 16, 2011

Nov. 16 (Bloomberg) -- Russia’s Finance Ministry may schedule additional auctions of domestic ruble debt in December after abandoning its original plan, debt department head Konstantin Vyshkovsky said today.

“There’s no need to look at the timetable, we’re not following it because we were out of the market for more than a month,” he said in a phone interview.

The ministry will review the situation on the market later in the year and may plan auctions for after Dec. 7, when its last debt sale was due to have been held, according to the latest version of the timetable.

Russia sold 2.15 billion rubles ($70 million) of 10-year debt in today’s auction at an average yield of 8.45 percent, the upper end of guidance given yesterday.

“We don’t want the market to get the impression that bids must always be made at the top end and that they will always be accepted,” Vyshkovsky said. “We’re going to try to break this trend.”

To contact the reporter on this story: Alex Nicholson in Moscow at anicholson6@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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