Russian ECP issuers set for bumper 2013
Russian issuance of euro commercial paper is set to grow this year following a “fantastic” 2012 that saw a number of new credits enter the market and the adaptation of mature issuance strategies, dealers have said.
VTB Bank launched a $2bn ECP programme in July and already takes an approach more in keeping with well-established western European issuers, according to dealers.
It sold a $19.5m one year clip on December 24 following a reverse enquiry. VTB Capital and UBS were dealers on the trade.2012 ...