Sberbank CIB

Russian Copper Co (RCC) has closed a $250m five year credit facility, marking the second refinancing that RCC has secured this year. The tight margin sparked a sliver of optimism in the market.

RusHydro will come to market for a dual tranche deal in rubles and offshore yuan, following a roadshow to promote the bonds.

Sberbank is merging its corporate banking and Sberbank CIB divisions and plans to complete the integration by the end of 2018, with deputy chairman Anatoly Popov heading the combined entity.

Cherkizovo, the Russian meat and sausage producer seeking to list on the Moscow Exchange, has failed to get its re-IPO away, citing market volatility for postponing the deal.

With the shock of the latest round of Russian sanctions receding a little, EM investors are already seeking out the opportunities that last week’s volatility created. Even one holder of the sanctioned and problematic Rusal debt said he has increased his exposure to Sberbank.

The IPO of IBS IT, a Russian technology company, was postponed on Friday due to “increased market volatility” driven primarily by US-led sanctions against Russia. According to Nikki Haley, US ambassador to the UN, more might be coming.

Three new Russian equity capital markets deals were launched this week, with bankers confident that European equity investors are comfortable enough to buy Russian risk despite diplomatic tensions between the country and the West growing more hostile.

Cherkizovo Group, Russia’s largest meat producer, has launched a $300m-plus secondary public offering on the Moscow Exchange to boost liquidity in its stock and raise funds for acquisitions and debt repayment.

Russian Copper Company has signed a $250m loan with a club of banks to refinance a previous facility.

RusHydro, the Russian hydroelectric power generator, kicked off local currency Eurobonds for 2018 with a three year note on Thursday. DCM bankers said that internationally cleared local currency bonds will gain increasing traction this year.

United Company Rusal has released price guidance for its Reg S/144A five year benchmark bond.

Polyus Gold, Russia’s largest gold producer, printed its $500m six year bond on Wednesday from a book of $2bn and flat to where lead managers said they saw fair value.