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Banking

FinMin to swap USD 1.075bn USSR debt for Eurobonds.

FinMin to swap USD 1.075bn USSR debt for Eurobonds. FinMin announced the expected results of the offer to exchange trade debt of the former USSR for Russian Eurobonds due in 2010 and in 2030. The offer expired on Nov 10, 2006 . The bids for the swap represent around 99.96% of the USSR debt subject for restructuring. Over 5,000 bids were submitted by residents of 30 countries. The swap will be carried out on Nov 28.

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