Russian financials prove that Swiss investors have regained their appetite for EM credits
Underscoring Swiss investors’ rapid recent shift in sentiment towards emerging markets credits, Russian financial names grabbed attention in the Swiss franc market this week.
Having already more than doubled the four year note it launched last Friday, VTB Bank accessed an additional Sfr75m of demand on Thursday. In
addition, Gazprombank announced a non-deal roadshow for next week.
Two months ago market participants would have considered a Swiss franc EM deal impossible. But
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