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Long OFZs Sold

Russia sold 15-year ruble bonds, its longest-dated domestic government notes offering since 2008, in a bid to lengthen the maturities of its debt.

The Finance Ministry sold 9.8 billion rubles ($329 million) of these OFZ bonds due Feb. 3, 2027, at an average yield of 8.32 percent in Wednesday's auction, according to its website. The offering is the longest-dated debt sale since August 2008, when the government sold ruble bonds due 2036.

The Finance Ministry was seeking to sell 10 billion rubles of the 2027 securities at a yield of 8.2 percent to 8.4 percent in Wednesday's auction and investors submitted 50.5 billion rubles in bids, the ministry said.

(Bloomberg)

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