Electric power giant RusHydro issued the euro bond, the first in a Russian company
November 19, 2018
Russian electric power giant RusHydro announced on November 15 that it issued the first RMB denominated euro bond in Russian enterprises.
It is an attempt to reduce the influence of US sanctions against Russia in the financial field.
According to the company’s press release, it issued 1.5 billion yuan of bonds with an annual interest rate of 6.125% with a three-year maturity,
It becomes offshore RMB denominated euro bond (euro bond) which is issued and distributed outside mainland China.
It was made on the basis of Reg S (Regulation · S) which is not obliged to register with the US Securities and Exchange Commission (SEC).
The managing companies are VTB Capital, JP Morgan, and Gazprom Bank.
The result of book building (preliminary demand survey by securities company) was 2.5 billion RMB, 82% was an offer from Asian investors.
JETRO
https://www.jetro.go.jp/biznews/2018/11/d1988ff83608b056.html