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Russian, Chinese banks interested in issuing yuan-denominated federal loan obligations

February 06, 14:10 UTC+3 MOSCOW
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MOSCOW, February 6. /TASS/. Several Russian and Chinese banks are interested in issuing OFZ (Federal Loan Obligations) denominated in yuan, according to the Russian Finance Ministry’s Main guidelines for 2017-2019 debt policy released on Monday.

"Currently one may talk of both Russian professional stock market players and Russian subsidiaries of a number of Chinese lenders being interested in acting as organizers of such an issuance [yuan-denominated OFZ on the Moscow Exchange - TASS]," the report said.

Amid geopolitical tensions the issuance of yuan-denominated OFZ on the Russian domestic market aimed for local Chinese investors instead of "offshore" investors, is the most promising, the Ministry said.

As was reported earlier the Finance Ministry planned to issue yuan-denominated OFZ worth up to $1 bln on the domestic market in 2016, though later the Ministry adjusted its plans for 2017. According to the report, the infrastructure of Russia’s financial market is ready for the issuance.

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