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Russia's VEB set to issue $2 bln in foreign currency bonds


MOSCOW, May 13 (RIA Novosti) - Russia's national development bank, Vnesheconombank (VEB), is set to issue the first tranche of foreign currency bonds worth $2 billion in a bid to soak up surplus foreign currency liquidity in the country, a VEB official said on Wednesday.

VEB Deputy CEO Sergei Lykov said the bonds would be issued in the next five days immediately after the securities were registered by the Federal Financial Markets Service.

"We hope that the bond issue will take place in the coming days. So far the first tranche will be issued and we are expecting strong demand," Lykov said.

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