Russia

Russian container terminal operator Global Ports Investments has released guidance for a $350m long five year bond on Monday, offering much more than several other double-B rated credits from the country.

The Brics bank is to finally make its capital markets debut later this month by issuing green bonds in RMB with the proceeds to be channelled into energy and infrastructure projects, sources have told Emerging Markets, a sister publication of GlobalCapital Asia.

Renaissance Financial Holdings is looking to extend its maturity profile with a five year non-call two note via an exchange offer.

Russian container terminal operator Global Ports Investments has mandated six banks for its debut Eurobond and is embarking on a roadshow for the deal. The last time a debut issuer from the country tapped the bond markets was in 2013.

Russian software firm, Kaspersky Lab, is refinancing a credit facility with international banks and reducing the margin despite many Russian borrowers paying more for their loans.

Russian mining firm Metalloinvest has closed a $400m pre-export finance facility (PXF), with two banks coordinating. But the bank list and pricing have not been disclosed, leaving uncertainty over the wider lending appetite for the deal and sector.

Russia is making preparations to sell an offshore renminbi bond, its debut in the currency and the government’s first international bond since 2013. But with sanctions still in place and renminbi liquidity limited in Russia, the sovereign is planning to ask China to relax one of its outbound investment schemes so that mainland investors can buy the deal.

Russian B&N Bank sold $150m of 2019 paper on Monday, only managing to hit the lower end of its targeted size range.

Russian B&N Bank has released price guidance for a $150m-$200m loan participation notes and is targeting Asian investors with the deal, according to a source at the issuer.

Evgenia Tyurikova has been hired as Sberbank’s new head of private banking.

In this round-up, China's cross-border trade settlement fell to a near three-year low in February, CME reports record levels of trading in its offshore RMB futures, RMB spot trading fell but swap trading surged on the Moscow Exchange, Singapore renewed its currency swap line, and Deutsche Bank sets up a the first interbank host-to host platform by a foreign bank in China. Plus, a recap of GlobalRMB's top stories this week.

As further news of banks being unofficially asked to stay out of arranging a Russian sovereign bond was leaked this week, gas giant Gazprom entered the Swiss franc market and drew one of the largest ever books for a note in the currency, demonstrating the pent up demand that exists for Russian paper.