Russian borrowers flock to VEB funds
The top companies in Russia — and the biggest borrowers in the international markets — are continuing to line up to get funding from the government through Vnesheconombank. Last week, steel maker Evraz received $1.8bn to refinance some of its loans, and this week, Rosneft, one of the most highly leveraged companies in Russia, has secured $774m. Bankers are hopeful that this will go some way towards reducing refinancing risk for next year, but many worry that it will not be enough. Read EuroWeek on Friday for analysis on the syndicated loan market in Russia.
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