Page 144 - RusRPTApr23

The CBR also said that foreign residents have reduced their holdings of OFZ by just over RUB1 trillion since the start of the war and holding currently stand at RUB1.766 trillion ($23.1bn) as of early March 2023 against the total market volume of RUB18.24 trillion ($238.3bn).
8.5.1 Fixed income - bond news
The Russian Finance Ministry has announced its plan to float federal loan (OFZ) bonds worth RUB850bn ($11bn) in the second quarter of 2023. The ministry said that the planned volume of OFZ bonds floating in the second quarter of 2023 is RUB850bn in terms of the par value. According to the ministry, the amount to be offered will be RUB50bn ($644.8mn) for bonds mature in up to five years, RUB400bn ($5.2bn) for bonds with maturity from five and up to ten years, and RUB400bn ($5.2bn) also for bonds mature in more than ten years. The Ministry posted the schedule of bond auctions in the second quarter of this year. Four auctions will be held in each of April, May and June (April 5, 12, 19 and 26; May 3, 17, 24 and 31, and June 7, 14, 21 and 28 accordingly).
The federal loan (OFZ) bond issue in currencies of friendly countries is under development, Russian Prime Minister Mikhail Mishustin said on March 29. "The start of issuing federal loan bonds and other instruments in friendly
144 RUSSIA Country Report Russia April 2023 www.intellinews.com