Russians enjoy busiest week since golden era of 2013
If any proof was needed that the “spirit of sanctions” has thawed in the capital markets, $3bn of Russian Eurobonds in one week should be it. Russian borrowers have had their busiest week by volume since the heady days of April 2013, and there is plenty more to come, writes Virginia Furness.
Four corporate issuers Metalloinvest, Rusal, PhosAgro and Industrial Metallurgical Holding (IMH, previously KOKs Group) raised $2.3bn, and Credit Bank of Moscow placed a $700m additional tier one, only the second Basel III compliant capital bond out of Russia.Market conditions have proved extremely conducive since the result of ...
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