Emerging borrowers prepare for onslaught
A host of new mandates are flooding out of the emerging markets with Russian borrowers prominent. Moscow Regional Power Grid Company (MOESK) plans to issue $1b of Eurobonds around the end of October, VTB is said to be preparing an autumn deal, while Alfa Bank is also testing investor interest in a new issue. Finally, Novolipetsk Steel is planning a debut Eurobond of up to $2bn as part of the takeout of its $2bn bridge loan taken out to fund its acquisition of steel pipe market John Maneely. Read EuroWeek on Friday to learn more.
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