RusHydro debuts Eurobond

RUSSIA / FSU POLITICS - In Brief 18 Nov 2018 by Alex Teddy
On 15 November RusHydro debuted the largest ever Russian Eurobond denominated in Renminbi to date. The issuance was for 3 year bonds worth USD 216 million (in Yuan). This is the very first time that a Russian company has issued a Eurobond for offshore investors in Chinese currency. Russian companies have been using Chinese debt markets for a few years. Yet this is another step in the direction of a multipolar financial world. Wall Street and the City of London are no longer the only two serious players. Russian companies are keen to look to non-Western sources of capital to avoid sanctions, and for political reasons. It is speculated that RusHydro will purchase Chinese equipment and pay in Renminbi.

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