"What the issuer is doing to the senior noteholders is completely wrong. This is setting a dangerous precedent for other Russian deals, and European investors will think twice about buying from Russian issuers."

29 Jan 2010

--Shammi Malick, head of asset-backed securities at Brains, on Gazprombank's move to switch the currency of the Class A-1 notes in one of its securitizations from euros to rubles.

"What the issuer is doing to the senior noteholders is completely wrong. This is setting a dangerous precedent for other Russian deals, and European investors will think twice about buying from Russian issuers."--Shammi Malick, head of asset-backed securities at Brains, on Gazprombank's move to switch the currency of ...

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