Russia preps return as spreads signal appetite

Russia is preparing its first international dollar deal in two years, calculating that this year’s strong rally in its spreads will outweigh memories of its underperforming $5.5bn dual trancher in April 2010. The deal, which the sovereign will roadshow for 10 days from 17 March in San Francisco, Los Angeles, Boston, New York and London, is likely to total some $2bn of 10 and 30 year bonds, bankers have said previously.