Russia on Wednesday hailed its Eurobond issue as a triumph over Western obstruction, but there was no sign that big foreign investors had bought the bond and, unusually for a large issue, there was scant trading in the paper once it was placed.
Russia had sold $1.75 billion in 10-year Eurobonds on Tuesday, smaller than its previous placements, after Western officials warned international banks and investors against taking part. The yield of 4.75 percent was some 50-70 basis points above equivalent secondary market yields.
Russia nevertheless put a positive spin on the issue, the first since Western sanctions were imposed on Russia …read more
Source: Voice of America
