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RBC Completes Russian Rouble Issues

RBC Capital Markets said last week that it had completed two of the first ever bonds denominated in Russian roubles.

 The first issue was RUB 2 billion with a five-year term issued by the European Bank of Reconstruction and Development and the second issue was RUB 2 billion with a four-year term issued by Nordic Investment Bank.

“When RUB became an eligible settlement currency on 15 January 2007, we wanted to be there to meet investor interest in Russian roubles,” says Avril Pomper, RBC Capital Markets’ head of fixed income distribution, Europe. “We’re active in local currencies, and we’re seeing that investors are willing to diversify away from traditional currencies like the euro and yen into emerging markets like Turkey and Iceland.” 

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