Severstal success heralds Russian LM pipeline

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Severstal success heralds Russian LM pipeline

Russian steel manufacturer Severstal kicked off what some bankers expect to be the first of a run of Russian asset liability management trades this week. Low cash prices and leftover Capex cash are prompting the country’s corporates to turn to tenders, they said, but a volatile and uncertain bond market presents problems for such exercises.

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