Interfax reported that OJSC Russian Railways plans to place RUB 70 billion in ruble-based bonds and USD 1 billion in Eurobonds in 2012.

Commenting on ruble based borrowing and the source said that investors should expect to see offers for 10 year bonds.

RZD's general borrowing plans for 2012 come to RUB 100.3 billion.

The source said that three quarters of the funds RZD borrows next year might go towards financing its RUB 411.6 billion investment program. In addition to loans, RZD hopes to receive RUB 79.125 billion in state subsidies for financing its investments next year. In addition, the company intends to earmark almost RUB 256.8 billion of its own funds for CAPEX.

(Sourced from Interfax)