Page 119 - RusRPTOct20

8.5.1​ Fixed income - bond news
The Russian government could issue RUB1 trillion ($13.2bn) worth of infrastructure bonds,​ Vedomosti daily reported on September 20 citing the announcement of the Deputy PM, Marat Khusnullin. The proceeds of the bonds would limit the budget consolidation and help finance the national projects, as well as to maintain the volume of construction. Khusnullin estimates that the budget will have to be consolidated by 10% in 2021-2023 as a consequence of the coronavirus crisis. The infrastructure bonds could be issued by Avtodor road building agency (RUB500bn), the Dom.rf housing and mortgage agency (RUB200bn), as well as the state development bank VEB.RF (RUB200bn for transport and urban infrastructure).
Gazprom​ has registered RUB150bn ($2bn) worth of perpetual ruble bonds to finance its regional gasification programme, Kommersant reported on September 29. Russia has launched a project to connect ​retail gas consumers to gas infrastructure on to the state-controlled gas giant​ ​Gazprom​, but the question is who will pay for the work?​ ​The ruling United Russia party passed the RUB2 trillion ($25bn) cost onto Gazprom​, which is trying to work out where it will find the money. ​In a separate report Interfax said that the overall spending on the gasification programmes in Russia is estimated to be RUB603bn ($8.1bn) over 2021-25, Interfax reports, citing the actual Gazprom presentation during an meeting organised by United Russia. Reportedly, of this, Gazprom might invest RUB526bn ($7.1bn), with RUB247bn possibly
119 ​RUSSIA Country Report​ October 2020 ​ ​www.intellinews.com