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MOSCOW, October 27. /TASS/. Russia’s yuan-denominated are likely to have good perception on the market, Senior Vice President at Moody's Investors Service Kristin Lindow told TASS on Thursday.
"Certainly investors always like to diversify their holdings, so since Russia hasn’t issued it before there (some companies that have attained credit there but in bond market Russia hasn’t issued before) just on the diversification basis it’s likely that Russia get a good reception," Lindow said.
Investors will address many factors when considering submission of bids, the expert said. "The investors will price in some element of risk to the Russian bonds, they price in some element of liquidity. Since there only be one issue it won’t be particularly laid liquid, so that tends to raise the cost of issuing the first bond in the market. Again, the diversification idea works to help lower the cost of the bond," Lindow said.
"There are a lot of forces that work when a country goes into a foreign market, and I don’t know how their balance will be evolved in the factors that determine the price. Russian authorities will have to make a determination in advance of what they think," she added.
It was reported earlier Russian Finance Ministry may float on the Moscow Exchange the pilot issue of yuan-denominated bonds in the amount equivalent to $1 bln by 2016 year-end.