Russia sold its longest-maturity bonds since October as a quickening economic recovery lured investors to notes the government was unable to issue last week.
The Finance Ministry placed 26.5 billion rubles ($877 million) of five-year bonds and 3 billion rubles of shorter- dated debt yesterday in its biggest auction since January, according to the central bank’s website. The 2015 bonds were priced to yield 7 percent, the lowest end of the 7 to 7.51 percent yield range investors demanded for the same debt when it was offered last week, according to the Finance Ministry.
Bondholders are returning after the government said this week economic growth accelerated to 5.4 percent in the second... Full Story
