Page 106 - IFR Opportunities in Russian capital markets

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ifrintelligence reports/Opportunities in: Russian Capital Markets
Demand for these bonds is being fed by higher yields and the expectation of more ruble apprecia- tion. And as the ruble is now a fully convertible currency and Euroclear has already set up the mechanisms for settling deals in rubles (although no deals had been yet done at the time of writing) this segment of the market is expected to grow once ruble-denominated settlements appear. Clearstream has set up similar systems in anticipation of the appearance of ruble currency trading.
Table 4.9: Ruble Eurobond issues, 2005–06 (RUBbn)
Date of placement Maturity Amount, (RUBbn) Coupon rate (%)
VTB 09
Red Arrow
Expobank 07 (CLN)
Russian Bank for Development 06 (CLN) Rosbank 09
Renaissance Capital Bank (CLN)
Soyuz Viktan 07 (CLN)
Bank of Moscow
07/04/06 30/03/06 30/03/06 31/03/05 22/09/06 27/07/06 27/02/06 17/11/06
13/04/09 30/06/12 30/06/12 29/12/06 30/09/09 27/07/07 27/02/07 25/11/09
10.00 7.00 13.73 8.38 1.40 11.75 2.50 7.60 7.00 8.00 3.50 10.50 0.75 11.50 5.00 7.25
Source: Cbonds
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