Source Pravda.Ru

Moscow region to attract up to $85m on domestic market

The Moscow regional authorities are going to enter the domestic market ofborrowings and attract up to 2.7bn rubles (about $85m) by receiving creditsand issuing bonds in 2002, Moscow regional governor Boris Gromov announcedat a press conference today. He noted that the region would be able toraise funds due to the positive situation with debts.The Moscow region plans to issue and float bonds in September or October2002. The bonds are expected to be issued with a coupon yield of 21-22percent a year. Regional authorities are going to allocate attracted fundsfor financing the task program 'Transport services to residents of theMoscow region'..