Russia says it will launch debut yuan-denominated domestic bonds on December 8
MOSCOW, Nov 12 (Reuters) - The Russian Finance Ministry said on Wednesday it will launch two debut issues of yuan-denominated domestic government bonds with maturities ranging from three to seven years on December 8.
The announcement confirmed a Reuters report from October 31 about the planned move, which offers an investment option for the vast amounts of yuan liquidity accumulated by exporters and banks from Russian energy sales to China.
The ministry said that Russian banks Gazprombank, Sberbank and VTB Capital will organise the placement.
It said the volumes of the issues will be set after books close on December 2. Three financial market sources told Reuters earlier that the ministry plans up to four issues for a combined amount of up to 400 billion roubles ($5 billion).
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