Vive la France! – Paris banks prompt pricing revival

13 Mar 2012

French banks have not been rushing into Russian loans for a while now, but their return in force to the latest borrowing from Rosneft has got the loans market talking. The new deal is certainly a lot more attractive than Rosneft's December 2011 loan. By holding their fire last year, the French banks may have helped push pricing up: their return might send it the other way.

Absence, it is said, makes the heart grow fonder. The saying certainly seems to be true of the loans market at the moment. At least two French banks have returned from their self-imposed Russian absence that began last year and now plan to commit $150m-equivalent tickets to the ...

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