MOSCOW, Sept 12 (Reuters) - Russia’s finance ministry will launch on Wednesday a new issue of its popular OFZ bonds worth a total of 15 billion roubles ($262.51 million) which are designated for direct sale to private persons, the ministry said in a statement.
State-controlled lenders Sberbank and VTB will act as agents selling the new paper to the population.
The nominal value of the bonds, which are due to mature on Sept. 16, 2020, is 1,000 roubles. Yields on the bonds will gradually rise from 7.0 percent annual on the first coupon to 10.1 percent on the sixth, and last, one.
The issue is part of the government’s programme of domestic borrowing aimed to bridge the fiscal gap. ($1 = 57.1398 roubles) (Reporting by Dmitry Solovyov; editing by Katya Golubkova)