MTS success signals patchy return for Russian loans
A handful of long-awaited deals in the Russian loan market have been welcomed by lenders, starved of anything to get their teeth into since September last year. But don’t hold your breath — no-one is predicting a recovery of the market any time soon, least of all the bankers involved in these recent transactions.
At long last, after nearly nine months virtually devoid of any transactions, the Russian loan market is showing some signs of life.
One deal, a $630m extension for Mobile TeleSystems (MTS), even bears the hallmarks of a successful transaction. Twelve lenders have committed to it during senior syndication,
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