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Emerging MarketsEM CEE

Eurobonds from Russia with limited love

Moscow Russia 230px

Russia this week printed its first Eurobond since 2013. But the $1.75bn deal — hobbled by Western banks refusing to lead arrange, Euroclear declining to confirm it would settle the bond and compliance teams halting some fund managers from participating — was not a straightforward issue. Debate rages as to whether the exercise has done the sovereign more harm than good.

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