VimpelCom Finance has decided to start the placement of its first issue bonds on May 20, 2003, the press service of Raiffeisenbank Austria, which is the underwriter of the issue, reported. The issue totaling 3bn rubles ($97.66m) was registered by the Federal Commission for the Securities Market on April 18, 2003. The bonds will mature in three years. Coupons will be paid every six months.
The head of the Russian Finance Ministry, Anton Siluanov, said that the Americans would suffer additional losses if they impose sanctions on Russia's public debt