Russia Selling Foreign Debt as Risk Premium Slides: Chart

Falling borrowing costs have cleared the way for Russia to sell the first international bond since the U.S. and Europe imposed sanctions two years ago -- without the aid of a foreign underwriter. The yield premium investors demand to hold 10-year Russian dollar bonds over Treasuries was 248 basis points on Monday, down from 370 basis points in January and more than 500 in 2014. The government’s last Eurobond, sold in September 2013 and due 2023, was priced at a spread of 220 basis points over Treasuries.

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