BEIJING, March 16 (Reuters) - Russia has created the necessary market infrastructure for the issuance of its first yuan-denominated OFZ bonds, the deputy governor of the Central Bank of Russia told Reuters in Beijing on Thursday.
The tenor of the bond has not been announced nor has the timing, Dmitry Skobelkin said in an interview ahead of the opening of the central bank’s representative office in Beijing on Thursday.
Timing of the issue will be decided by the Ministry of Finance, he said.
A yuan clearing centre will open in Moscow later this month, he added.
Russia is planning to raise the equivalent of $1 billion by issuing its first-ever OFZ bonds in Russia denominated in Chinese yuan, which is “a priority project” for Russia.
Reporting by Matthew Miller and Zhang Shu; Writing by Nick Heath; Editing by Randy Fabi