MKB co-arranged Rosneft’s 15 bln yuan bond issue

Credit Bank of Moscow (MKB) has co-arranged Rosneft’s CNY 15 bln 3.05% bond issue placed on 20 September 2022 and maturing in 2 years. Interest is paid semi-annually.

The other arrangers were RRDB, Gazprombank and REGION BC. The other co-arrangers were DOM.RF, Zenit, Russian Agricultural Bank and IC Veles Capital.

"This transaction is unique for the Russian debt capital market. The coupon rate achieved through the book building process is the lowest among all yuan-nominated bonds traded in the local market, while the deal size is the largest among all public placements ever made in Russia's debt market. Seeing the growing volume of yuan liquidity in the banking system, Rosneft chose the optimal moment to tap the market, meeting high demand from a wide range of investors encompassing banks, investment and asset management companies, as well as individuals," said Stepan Ermolkin, MKB's Head of DCM.

After the first 7 months of 2022, MKB ranked third among bond arrangers in Russia, with a 12% share in the debt capital market.