Applications from investors will be collected until May 28, and the issue of securities will take place on June 3. The trading period for the yuan bonds will be 10 years. Buyers will be able to receive income of their choice – in Chinese currency or in Russian rubles.
The first two issues of treasury bonds denominated in yuan – with maturity dates in 2029 and 2033 – were carried out by the Russian Ministry of Finance in December last year. Reuters sources said that the ministry intended to obtain 300-400 billion rubles (approx. PLN 161-215 billion). However, in reality, securities worth 219 billion rubles (20 billion yuan, i.e. nearly PLN 11 billion) were sold.
The Russian authorities have been trying to issue bonds denominated in yuan in China for over 10 years, but failed to agree on terms with Beijing. The Central Bank of the People's Republic of China (PRC) only allows the issuance of panda bonds [denominowanych w juanach]and funds derived from them cannot be transferred outside China.
