The Ministry of Finance plans in April to enter the market with the first release of Federal loan bonds to the public, to purchase new securities in the savings Bank and VTB 24, said Finance Minister Anton Siluanov said at an investment forum in Sochi.
“Willing to buy OFZ will need to spend at least 30 thousand rubles”, — he said. The volume of the first issue of 20 billion rubles, the nominal value of the securities of RUB 1 thousand, circulation term — 3 years, semiannual coupon.
The Minister noted that the yield of the securities exceed the volume traded of bonds by 0.5 percentage points at the time of repayment. The coupon will be fixed, but increasing over time. So, in the first year of ownership it will be lower than market OFZ and, in the case of owning the paper to maturity, the yield will be higher than in this OFZ. “Now calculated on the three-year OFZ market yield is 8% per annum. We plan to provide a new paper at 8.5%, it means that the coupon will increase from 7.5% to 10.4%. The result will be ensured 8.5% annual yield for a period of three years”, — said the Director of the Department of state debt and governmental financial assets Konstantin vyshkovsky.
“This is the first form of participation of our citizens in the market, paper can be sold only to the Bank”, — said the Minister of Finance. The Minister stressed that the paper will compete with deposits. “If the funds put on Deposit, there are always risks. The value of these OFZ 100 percent will be guaranteed by the state, any discount is not provided,” — said Siluanov.
It is assumed that every year the Finance Ministry will offer such bonds for the population in 20-30 billion rubles, produced of paper will be once in six months. People will be able to buy paper lots of 30 thousand rubles to 25 million rubles. Siluanov noted that he himself is going to buy such securities. “Certainly for me, this tool interesting.”