Only refis need apply – Russia in 2011?
Russian steel and mining holding company Metalloinvest has mandated BNP Paribas and Deutsche Bank as bookrunners for a $1.2bn five year syndicated loan. It is one of several Russian commodities companies in the market but bankers on the deal say it is “one of the few true refinancing deals” that will come out of Russia in 2011. Loans bankers expect that others will follow the repricing trend set by oil companies, Tatneft and GazpromNeft. Will the Russian market only offer refis or will there be more debut loans for interesting names like Bashneft and Rosatom? Read EuroWeek on Friday to find out.
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