Baltika may offer its debut three-year bonds next month, according to press reports. Citing the company's finance department head, Alexander Zumberov, Prime-Tass said yesterday that the bonds will be worth a total of RUB1bln (US$34m).

Baltika had initially planned to offer the bonds in May, Zumberov told the news agency.

The exact date has not been set yet, Zumberov said, noting that the company was waiting for more favourable market conditions. As soon as the current market situation improved, the company would fix a date, he told Prime-Tass.

The company wants to see a yield of less than 10%, he added.

Raiffeisenbank Austria, a Russia-based subsidiary of Austria's Raiffeisen Zentralbank Oesterreich AG, will act as the issue's organiser and underwriter.