Foreign governments have raised a record 13 billion yuan (US$1.8 billion) via yuan bonds this year, Bloomberg-compiled data shows.

Russia is inching closer to its first yuan-denominated sovereign bond sale, aiding China’s push to raise the global standing of its currency. Russia’s Finance Ministry will start taking orders on December 2 for the two-part, domestically traded notes. The borrower was expected to market the new debt with a targeted coupon of 6.25 to 6.5 per cent for a 3.2-year tranche, the Interfax news agency reported, adding that the coupon for a 7.5-year portion would be capped at 7.5 per cent. Running a…

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