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VTB Capital Sees Drop in Russian Corporate Eurobond Buyback Wave

17 October 2016
Doesn’t expect to see many more Eurobond buybacks among Russian cos, Andrey Solovyev, Global Head of debt capital markets at VTB Capital in London, says by phone.

Russian cos may sell new Eurobonds in Oct.-Nov.

NOTE: Otkritie Sees More Russia Firms Offering Eurobonds With Buybacks NSN OE62JI6KLVRW
Possible sovereign OFZ in yuan is “positive” idea because it’s “very important” to show U.S. investors that Russia has alternative to borrowing in USD; “This will help future bond sales because Americans will buy them more aggressively”.

Investors are exiting OFZs after making returns in 2016 as end of yr approaches
Ruble Eurobonds are complicated instruments for foreigners since they need to take on currency risk; expects to see more RUB Eurobond transactions next yr among Russian cos.

VTB Capital

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