Economics
Russia Hails Eurobond Triumph as Traders Ask: Who Bought It?
- VTB Capital was sole arranger of the deal to sell 10-year debt
- First Eurobonds since 2013 placed at yield of 4.75 percent
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Russia hailed its sale of $1.75 billion of Eurobonds as a triumph in the face of sanctions and “unprecedented pressure” from U.S. and European Union governments.
While Finance Minister Anton Siluanov said the deal showed foreigners have “trust” in Russia, investors expressed concern the bond won’t be admitted to international settlement systems. VTB Capital, the investment-banking arm of penalized lender VTB Group, emerged at the start of the week as the sole organizer of the deal after foreign governments warned lenders away from the placement.