Russian MinFin placing CNY 20 bln of OFZ bonds

MOSCOW. Dec 2 (Interfax) - The Russian Finance ministry will place CNY 20 billion of its debut yuan-denominated OFZ federal bonds.

A financial market source told Interfax that this included CNY 12 billion of 3.2-year bonds and CNY 8 billion of 7.5-year bonds.

The placement is equivalent to 219 billion rubles at the Central Bank rate for December 2.

Finance Minister Anton Siluanov said demand was highest for the 3.2-year tranche, coupon yield for which was set at 6% during book-building. The coupon on the 7.5-year tranche is 7%.