Russia
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State-owned Russian transport leasing firm State Transport Leasing Company (STLC) will meet investors for its second dollar bond from Friday. -
It's time for a Russia comeback. The sanctions remain as firmly in place as ever, and banks and investors have been clamouring for deals. But now, at last, compliance has caught up - and that means a bonanza for borrowers awaits.
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Agrokor’s largest creditors, VTB Bank and Sberbank, have made provisions for losses on the loans they have provided to the struggling Croatian food company.
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Metalloinvest, the Russian steel manufacturer, and Acron, the fertiliser producer, have both signed syndicated loans. They are soon to be followed by another Russian deal, for aluminium company Rusal, according to a banker looking at the deals.
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Sistema bonds fell three and a half cash points on Wednesday morning after Rosneft filed a Rb106bn ($1.87bn) lawsuit against the Russian holding company.
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Russia’s RenCap has bolstered its senior management team with a new sales head as it reorganises its markets business.
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Bank of America Merrill Lynch has hired a former Credit Suisse banker for its emerging markets DCM team.
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If any proof was needed that the “spirit of sanctions” has thawed in the capital markets, $3bn of Russian Eurobonds in one week should be it. Russian borrowers have had their busiest week by volume since the heady days of April 2013, and there is plenty more to come, writes Virginia Furness.
