Russian Railways puts sovereign on track
Russian Railways (RZD) sold its long-awaited debut bond on Friday, a $1.5bn seven year Reg-S deal that was allocated from a $10bn book. That book size indicated the depth of the market for Russian risk and is a positive sign for the Russian sovereign, which is planning to tap the international debt capital markets in the coming months, said investors and syndicate officials on and away from the deal.
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