Time to put up or shut up when lending to Russians

Having the last laugh is satisfying — just ask Russia’s Siberian Coal Energy Co (Suek). The firm is on the verge of signing a hugely successful facility after almost all corners of the emerging market loan universe said that the deal would struggle because of its five year tenor — Suek’s third loan of this length since October 2011. The time has come for lenders to accept how things are, rather than grumbling about how they think things should be.

  • By Michael Turner
  • 24 Jan 2014
Suek approached the market for a $1.2bn five year pre-export finance facility at the end of last year. At the time, there was much rolling of eyes and sucking of teeth in the banking community as lenders pointed to Suek’s five year deals signed in October 2011 and ...

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