Bonds, equities hit as investors spurn soaring Russian risk

11 Sep 2008

The flight from Russian assets gathered pace this week even as the queue of borrowers from the country hoping to issue in international debt and equity markets grew yet longer.

Local stockmarkets plunged, the rouble weakened and sovereign CDS widened, leaving the $20bn pipeline of potential bond issuance moribund and stifling the plans of Russian Railways, VTB and Alfa Bank. IPO candidates out in the cold include TNK-BP, EuroSibEnergo and Integrated Energy Systems.

$20bn bonds pipeline shuts down, ...

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