Domestic lenders step in as Russian loan mart wanes

Lukoil and Mechel are two of the latest Russian companies to receive hefty loans from Gazprombank as the country’s borrowers, once the darlings of the international loan market, begin to turn increasingly to domestic banks for funding. Meanwhile, worries about the enormous refinancing needs of both bank and corporate borrowers in Russia continue to weigh on international lenders, against a backdrop of worsening macroeconomic conditions. Check www.euroweek.com/loans for the latest on the Russian loan market.