Russian rapid returns leave bankers baffled
Russian-focused lenders have been left scratching their heads as they try to decipher the reasons behind moves by Siberian Coal Energy Co (Suek) and oil firm Rosneft to raise new internationally syndicated debt just six months after taking $3.3bn out of the market.
Baa3 rated Suek has approached the market to discuss a loan worth between $200m and $700m. The deal, which will be new money rather than a refinancing, comes just five months after the firm borrowed $1.3bn in a five year pre-export financing.
And Rosneft (Baa1) surprised participants when
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