The Ministry of Finance considers the placement of Russian bonds in yuan
[ad_1]
Against the background of growing volumes of trade with China and a surge of interest in the yuan on Russian trading floors, large Russian issuers began to enter the market with borrowings in Chinese currency. At the end of July, UC Rusal placed bonds for 5 billion yuan on the Moscow Exchange, and Polyus announced plans to raise 3.5 billion in August.
The Ministry of Finance is also considering the possibility of entering the market with bonds in Chinese currency, a source close to the government told Vedomosti, and another source, also close to the cabinet, confirmed it. The issue will need to be made within the framework of Russian law and infrastructure, one of the interlocutors specified. At the same time, it is advisable to involve Chinese continental investors in the issue, the source added. According to him, foreign currency borrowing as such is not required by the budget, so in this case, issuing bonds in yuan makes more sense from the point of view of creating a benchmark for corporate borrowers.
[ad_2]
Source link
