Russia to Sell Debut Yuan Bonds as War-Driven Deficit Widens

Russia plans to offer its first yuan-denominated government bonds early next month, underscoring efforts to retool its sanctions-hit economy and help cover a record fiscal shortfall this year.

The Finance Ministry will start accepting investors’ offers on Dec. 2 for two series of domestic, fixed-coupon bonds in the Chinese currency, with maturities ranging from three to seven years and a coupon period of 182 days, the ministry said in a statement Wednesday. Each bond will have a face value of 10,000 yuan.