Central and Eastern Europe (CEE)
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Rouble payment clauses will protect against CDS triggers, but they do not apply this week -
At least one investor confident payment will still be made despite lack of communication
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Rating agencies have warned offering rouble payments would mean default
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Sanctions and efforts to keep foreign currency in Russia make servicing loans nearly impossible
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Gazprom and Rosneft paid in dollars, but uncertainty clouds next batch of Russian coupon payments
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Citi is still ‘supporting corporate clients in Russia’ but questions are raised over sustainability of Moscow offices
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An issuer could be viewed as in default even if investors agree to a rouble payment, said one agency
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Bondholders are hopeful of a Swiss franc payment after Gazprom met a similar obligation this week
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The US firm is the first major Western investment bank to state its intention to leave
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Some investors have yet to receive repayment of Gazprom bond that matured on Monday
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Bond investors look to where their cash can go now Russia has been expelled from indices
