Monitoring Desk: Moving ahead for integration of Eurasia bloc, Russia will start selling Yuan-denominated sovereign bonds to Chinese investors from March 2018.
According to unconfirmed reports, Bank of China Ltd and Russian Gazprombank would lead the sale of Yuan bonds.
Reports suggest that Russian government plans to issue five-year Yuan bonds equivalent of $1 billion in year 2018.
Finance Minister of Anton Siluanov while talking to Russian media said that Russia and China discussed issue in detail and Russia decided to start sale of Yuan bonds from anytime next year (2018). Meanwhile, Russian market players believe that sale of Yuan bonds will start from March 2018.
“We held the talks (about selling Yuan bonds) with our Chinese. It is most likely that we will test this path next year,” said Russian Finance Minister Anton Siluanov while talking to state run Sputnik news agency.
Meanwhile, Deputy Finance Minister of Russia Vladimir Kolychev while explaining the sale of Yuan bonds said that bonds will be a liquid benchmark and will release in curve, not as “single issue (release)”.
Russia would be second country in the world to release Chinese Yuan bond as China is so far only country selling Yuan-denominated sovereign bonds.