Russia wake-up as Intesa backs $5.2bn Rosneft deal

By Dan Alderson
05 Jan 2017

Increasing interest among banks in lending to Russian companies has got a boost at the start of year, with senior officials expressing surprise and admiration at Intesa Sanpaolo’s decision to fully underwrite a loan supporting Glencore and the Qatar Investment Authority’s buyout of a stake in Russian oil company Rosneft. Dan Alderson reports.

Intesa’s underwriting of a $5.2bn loan backing the Rosneft consortium has been seen as a sign of recovering appetite for Russian credit by some loan officials at other banks. Before this week’s confirmation by the Italian bank, many in the market had predicted that Russian state banks would have ...

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