State-owned Russian Railways is planning to offer bonds worth about $1.6 billion, Bloomberg reports. Russia, which will host the soccer World Cup in 2018, is seeking to connect five of the 13 host cities with high-speed rail links. The country will spend a total of about $188.2 billion on the project. Russian Railways had previously sold a $1.5 billion bond in the U.S. currency and a $1 billion of domestic debt in 2010.

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