Reuters cited Mr Alexander Novak deputy finance minister of Russia as saying that Russian companies may start issuing infrastructure bonds guaranteed by the state as soon as December.

Mr Novak said "The first infrastructure bonds under state guarantees could be issued in December. He added that companies have already shown an interest including steel and coking coal producer Mechel St Petersburg airport of Pulkovo and the Baltic Sea port of Ust Luga as well as several energy businesses.

Mr Novak said "The state will give guarantees for the issue of bonds for a particular infrastructure project and on the condition that the issuer has found financing for at least 50% of such a project from alternative sources."

He said that "The state guarantee can be given for a sum equivalent to no less than USD 30 million for foreign currency issues and no less than RUB 1 billion for instruments denominated in roubles."

(Sourced from Reuters)