search query: @indexterm International capital market / total: 53
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| Author: | Lee, P. |
| Title: | The Russians are here - at last |
| Journal: | Euromoney
1997 : JAN, 1, p. 55-56, 58-60 |
| Index terms: | INTERNATIONAL CAPITAL MARKET FOREIGN INVESTMENT RUSSIA |
| Language: | eng |
| Abstract: | Russia returns to the international capital markets with the largest-ever debut Eurobond for a soverign credit, a $1 billion five-year issue. The deal gave the Russians everything they wanted wanted from the market and more. Joint-lead managers JP Morgan and SBC Warburg generated $2.6 billion of demand and priced the bond at 345 basis points over US treasuries whereas the deal had first been mooted as being for a two- or three-year maturity and no more than $500 million. Having thus completed a larger, longer-dated deal, Russia has set a benchmark for future borrowing that may save it billions in debt service costs. |
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