Russians dine on dim sum as reminbi buyers look abroad

Gazprombank has become the fourth Russian borrower in just three weeks to take advantage of a growing renminbi investor base that has become increasingly comfortable with foreign issuance from across the credit spectrum. And as the post-Chinese New Year pipeline builds, bankers are hoping the Russian quartet will encourage debuts from other international issuers, writes Steve Gilmore.

  • 08 Feb 2013
The Russian bank closed its first offshore renminbi deal on Monday, pricing a Rmb500m ($79.4m) February 2016 deal at par to yield 4%. That followed debuts from peers Russian Agricultural Bank and Russian Standard Bank, and a benchmark-sized increase from VTB Bank. It is clear that, almost overnight, ...

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