MOSCOW, Dec 10 (Reuters) - Russia will be reluctant to provide high premiums to the secondary bond market in 2021 when it plans to borrow 3.7 trillion roubles ($50.35 billion) via OFZ treasury bonds to plug budget holes, the deputy finance minister said on Thursday. Running out of options to bolster public finances strained by the pandemic and the collapse of oil prices, its main export, Russia has more than doubled its domestic borrowing plan in 2020 and is planning to rely heavily on OFZ bonds next year. Timur Maksimov said the finance ministry was on track to raise 5.5 trillion roubles in OFZs this year. “These are record numbers. I think that even in bad dreams, no one could have imagined that 2020 will make us face such an ambitious borrowing programme,” Maksimov told a bond conference. In 2021, Russia will focus on borrowing via OFZs with fixed coupon rates “without excessive premiums, in other words with a very conservative pricing” and may trim the borrowing plan should the situation with the COVID-19 pandemic improve, Maksimov said. Providing little in the way of premiums to the secondary market means Russia will manage to avoid a bigger rise in borrowing costs. “We hope there will be no ‘black swans’ in 2021. The (borrowing) programme looks quite doable, especially given our 2020 experience,” Maksimov said. In 2020, Russia has raised more than 3 trillion roubles in OFZs with coupon payments pegged to money-market rates, so-called floaters, much of which was purchased by major state banks. OFZ bonds used to be popular among foreign investors thanks to lucrative yields but non-residents did not snap up OFZs with floating coupons, preferring classic OFZs with fixed rates instead. Russian yields remain attractive versus many of its peers even though the Russian central bank slashed its key interest rate to a record low of 4.25% to support the economy with cheaper funds. Non-residents’ share among holders of OFZs will stay at near current levels of 27%-30% in 2021, assuming no new Western sanctions are imposed on Moscow, according to Russia’s credit rating agency ACRA.