Singapore’s Last Russian Bond Seller Has Just Left the Island
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Only four years ago, Russians were the biggest sellers of Singapore dollar bonds outside Asia. As of this week, they’ve all paid up and left town.
None of the country’s issuers remain in the market after Moscow-based lender VTB Bank JSC repaid a S$400 million ($292 million) note without replacing the debt on Monday. It’s the first time in five years a Russian issuer hasn’t had a Singapore dollar bond outstanding.