EEMEA market round up: RBC arranges rouble bonds
RBC Capital Markets announced the completion of two of the first ever rouble-denominated bonds since the rouble became fully convertible.
On January 15 2007 the rouble became an eligible settlement currency. On January 18 RBC announced these bond issues. "We wanted to be there to meet investor interest in Russian rouble," says Avril Pomper, RBC Capital Markets’ head of fixed income distribution, Europe.
The first bond, issued by the EBRD, was for Rb2 billion ($75.3 million) with a five-year term. The second issue was a Rb2 billion four-year term bond issued by Nordic Investment Bank. Also Gazprombank became the first Russian company to sell an international bond in roubles.