ST PETERSBURG, Russia, June 2 (Reuters) - Russia will issue a sovereign Eurobond when it is technically ready, Finance Minister Anton Siluanov said on Friday, adding that Moscow aimed to issue $3 billion in new debt and swap another $4 billion in old Eurobonds for new ones.
“We are not bound by any deadlines or schedules. It’s in our interest to find the best window of opportunity,” Siluanov told reporters on the sidelines of St Peterburg economic forum. He had said earlier that the issue would take place this year.
“We will take $3 billion on the market and will swap another $4 billion.”
VTB Bank will arrange the Eurobond issue, while Sberbank and Gazprombank will help arrange the swap, Siluanov said.
He also said that Russia would have to start spending its reserve fund “in the autumn, closer to the winter”. (Reporting by Darya Korsunskaya; Writing by Dmitry Solovyov; Editing by Vladimir Soldatkin)