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Emerging MarketsEM CEE

Russian benchmarks back as state-owned duo tap euros

Gazprombank and Sberbank declared the Russian Eurobond market open for business after a four month break this week. Both issuers sold successful euro deals from healthy order books, after starting with what bankers away from the transactions saw as generous guidance. But bankers are sceptical the duo’s success will prompt a run of follow-on Russian deals.

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