BONDS: Rusal mandates BEA and BNP for renminbi bond

Russian steel giant UC Rusal is rumoured to have mandated Bank of East Asia and BNP Paribas for a renminbi bond in Hong Kong. The size is undecided, but the tenor is expected to be three and five years. The paper, Rusal’s first in the Asian domestic bond markets, is expected to be launched in January or February.