Vimpelcom continues parade of blue chip Russians to bond market

Vimpelcom, Russia’s second largest mobile phone operator, is marketing its dollar benchmark this week. The deal will consist of five and 10 year tranches and roadshows will finish tomorrow (Thursday) with pricing to follow. The gradual trickle of blue chips — Vimpelcom is rated Ba2/BB+ — into the market is heartening, but offers little comfort for lower rated financial institutions that remain locked out of the market. Read EuroWeek on Friday for full analysis of the deal.