Last week’s $3bn Rosneft eurobond caps a strong year for Russian corporates which have so far raised $14.8bn from the international debt markets – well up on $12.1bn for the whole of last year and approaching 2007′s record $18.1bn, according to Dealogic, the research company.
The success of Russia’s corporate giants in attracting investors at ever-lower yields opens the way for second- and third-tier companies to tap the markets next year – as long as international investors remain flush with cheap money. Continue reading »
Life for international bond investors in Russia is expected to get a lot easier from January, when newly-created links between the Moscow market and European-wide settlement and clearing systems are finally switched on.
Russia’s Central Securities Depository will next month start opening client accounts with direct access to Euroclear and Clearstream, the west European-based clearing networks. Officials at Micex, the Russian financial exchange, say the accounts will become fully operational for bond investors at the beginning of 2013. Continue reading »
By Ben Aris of business new europe
Russia’s Economy Ministry announced it would offer Rbs1.5tn ($46bn) worth of bonds to finance infrastructure projects this week that has investors salivating at the prospect.
Russia has massively ramped up investments into its crumbling infrastructure in recent years as part of a grand plan to invest at least Rbs1tn into modernising the country. Continue reading »