Page 177 - RusRPTAug24

parameter, i.e. the minimum required placement volume. The statistics did not take into account small or test issues worth less than RUB 100,000.
The sharp increase in the volume of placements is due to the fact that in June, the largest transaction for the entire period of active issuance of digital financial assets took place, i.e. starting from June 2022. On June 17, VTB Bank placed a token for RUB 20bn at a rate of 15.8% per annum with a circulation period of 4 days on the Masterchain platform; the buyer of digital financial assets is unknown. The previous record for the volume of transactions with digital financial assets was set a year earlier, on June 16, 2023, when Russian Railways raised RUB 15bn from VTB Factoring.
The rest of the growth in June was primarily provided by issues of Wildberries (1bn rubles), Rostelecom (750mn rubles), Promsvyazbank (600mn rubles), Sinara - Transport Machines (251mn rubles), and Alfa-Bank (215mn rubles).
The total number of issues that took place over two years as of June 30 reached 331, and their total amount exceeded 87.1bn rubles, the review states. On average, in the first half of the year, companies attracted 7.8bn rubles per month, compared to 2.8bn rubles for the same period last year (+179%). This indicates a growing interest in new digital instruments, experts from the CFA Hub note.
The number of new issues since the beginning of the year has reached 182, or 55% of the total. The median maturity of the DFA is stable at the level of six months (182–183 days) – both at the end of the past six months and in general for the two-year observation period, the document says. The shortest issue was in circulation for only one day, and the longest was placed for 10 years and is due to be redeemed in November 2033.
The average weighted nominal yield of fixed-rate and discounted CFA issues reached 16.49% per annum at the end of the first half of the year (for the entire existence of the market - 16.13%). In June, the result was less preferable for investors (15.88%) due to the parameters of the largest issue of VTB.
177 RUSSIA Country Report August 2024 www.intellinews.com