Sep. 6, 2010 （China Knowledge） - United Co Rusal<0486>, the world's largest aluminum and alumina producer, said that it considering issue RMB-denominated bonds in Hong Kong, the Wall Street Journal reported.
According to the report, the company is also weighting possibility to float convertible bonds denominated by other Asian currencies.
Oleg Mukhamedshin, vice executive president, said the company is assessing possibility to issue convertible bonds in Hong Kong as an option for its fundraising plan. Rusal's debts have totaled US$12.5 billion.
Last month, McDonald's Corp has floated RMB 200 million in RMB-denominated bonds in Hong Kong, becoming the first non-financial foreign enterprise that floats RMB bonds in the city since Hong Kong and mainland inked agreement in mid-July to ease certain restrictions on the use and circulation of RMB in the city.
In January, Rusal raised US$2.24 billion from an initial public offering in Hong Kong, making it the first Russian firm list in the city.