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  • Article / 24 May 2016 at 10:26 GMT

    Russia's $3bn eurobond to kill two birds with one stone

    Russia oil and gas expert
    United Kingdom
    Russia's $3bn eurobond to kill two birds with one stone
    Russia's surprise placement of a USD-denominated eurobond might be aimed primarily at Russian banks, with non-Russian banks' participation as an optional extra. One way or the other, it also looks like an expensive means of gauging the interest (or ability) of foreign investors to buy Russian FX debt.
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    3y
    Nadia Kazakova Nadia Kazakova
    According to various media sources, Russia placed $1.75 billion of the 10-year USD Eurobonds. The yield is said to be 4.75%. Apparently, 75% of the issue was...
    3y
    Nadia Kazakova Nadia Kazakova
    The yield seems at a bit too high and the placement size a bit too low if demand was indeed around $9 billion as reported.
  • Article / 26 February 2016 at 12:15 GMT

    Russia picks wrong time to tap bond market

    Russia oil and gas expert
    United Kingdom
    Russia picks wrong time to tap bond market
    The Russian finance ministry painted itself into a corner with the idea of launching a new sovereign eurobond issue while Russia remains subject to international sanctions over the Ukraine conflict. If the $3 billion placement goes ahead, it might attract hot money, but at a price. A better strategy would be to come back to international markets once the sanctions are lifted.
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    3y
    Nadia Kazakova Nadia Kazakova
    Hi Stephen, I think Russian administration still believes that the oil price will rebound at some point this year. Hence, they are muddling through at the moment,...
    3y
    Nadia Kazakova Nadia Kazakova
    Hi fxtime, In terms of trust, I agree, Russia would need to win it back. Not sure the current administration is fully aware that it is seen...
    3y
    fxtime fxtime
    Since TNK-BP days I have kept funds away from Russia and i doubt I will be the only trader with this viewpoint. Greece is generally regarded the...
  • Article / 23 September 2014 at 12:08 GMT

    Russia's very survival is at stake

    Russia oil and gas expert
    United Kingdom
    Russia's very survival is at stake
    Russia's government is in a tight spot, with a revision of its three-year budget highlighting severe structural and political flaws. Though forecasts from Moscow remain optimistic, the truth could be far more precarious. According to economic minister Alexei Ulyukaev, Russia's situation is now one of survival.
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    5y
    DP DP
    I really liked your quantitative budget stability estimates.

    But I'm puzzled with the article title, though, -- didn't your grands tell you about WWII times? :)...
    5y
    Nadia Kazakova Nadia Kazakova
    I wish we were as tough as their generation. It would be shame to throw away what has been achieved and put the country back into a...
    5y
    Martin O'Rourke Martin O'Rourke
    To be fair to Nadia DP, we (the editors) of course like to highlight the more dramatic element of the story as our lead into an article...