FT: Russian issuers lead offshore CNY market.

By bne IntelliNews February 26, 2013
Russian issuers lead in terms of placing securities denominated in so-called "offshore" CNY, even surpassing the Chinese issuers, Cbonds reports citing the Financial Times. Since the beginning of 2013, Russian issuers placed USD 482mn worth of bonds in the currency, while Chinese companies placed USD 477mn. Namely, Rosselkhozbank issued 3-year Eurobonds worth CNY 1bn at 3.6%, Russian Standard bank issued 2-year bonds worth CNY 500mn at 8%, VTB placed additional CNY 1bn bonds at 3.802%, and Gazprombank issued 3-year Eurobonds worth CNY 500mn. Last year there was only one deal in CNY with a Russian issuer. In January 2013, overall USD 1.2bn worth of securities denominated in CNY were placed by all the issuers, a maximum since March 2012.

Related Articles

Russias participation in Cyprus bail-out under question.

As Cyprus is trying to come up with new ways to raise EUR 5.8bn needed to secure the financing from ECB, EC, and IMF, Russia's participation in the package is not clear. According to the latest ... more

Fitch: Russian banks risks in Cyprus limited.

Fitch Ratings believes that resolution of the Cyprus crisis with a deposit levy or some other form of burden sharing involving creditors is unlikely to result in material losses for Russian ... more

Sources: Russia could triple oil exports to China.

Russia and China discuss contracts that would triple exports of Siberian oil through various transport corridors, Reuters reports citing unnamed sources in the industry. Rosneft is discussing ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss