Support The Moscow Times!

RusAl Yuan Bond Pulled

United Company RusAl is scrapping plans to sell its first yuan bonds and instead is marketing 15 billion rubles ($530 million) of bonds with an option to redeem in 2015.

That sum is the same amount that the company raised in March in its first sale of ruble bonds since 2005, priced to yield 8.47 percent.

The only Russian company to sell bonds in yuan was VTB Group, whose 2.95 percent three-year notes issued in December yielded 2.16 percent Monday. RusAl became the first Russian company to sell shares in Hong Kong, raising $2.2 billion in 2010.

(Bloomberg)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.