VTB Capital
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Russian Railways has told investors that it is focusing on an eight year tenor for its euro green bond, with pricing for the benchmark expected "as early as tomorrow." The deal will be the first international green bond from the country. -
Rustranscom, the Russian freight and logistics operator, has decided against a listing that it had begun marketing in London and has opted instead for a private equity transaction.
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GTLK, Russia’s state transport leasing company, printed a $500m six year bond on Wednesday from a book of just over $1.5bn.
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GTLK, Russia’s state transport leasing company, is in the market with a Reg S six year dollar bond, returning to the market after pulling a deal in February 2018.
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Russian equity capital markets are red hot again, after almost two years in the cold, with supply being driven by some of Russia’s most powerful oligarchs. As investors warm to Russian equities, more of these billionaires are set to monetise some of their holdings, writes Sam Kerr.
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ECM investors continue to support Russian deals and flooded into a Rub5.8bn ($89m) block in LSR Group, the Russian real estate development company, in what was the latest sell-down by one of the country’s oligarchs.
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TransOil, a Moldovan agricultural exporter, on Monday launched the first ever international bond from the country, completing the deal successfully after a failed attempt last year.
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Alrosa, the world’s largest diamond mining business by carat volume, embarked on investor meetings on Tuesday to market a dollar benchmark Reg S/144A senior bond.
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Investors were so enthused by an offering in Norilsk Nickel, the Russian nickel and palladium mining and smelting company, on Tuesday night that bookrunners increased the sale to $550m, and the stock has continued to perform well in trading.
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The US Treasury has lifted sanctions on Rusal and EN+, the aluminium and energy companies formerly controlled by Russian oligarch Oleg Deripaska, but the fear of further sanctions against Russian companies remains.
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VTB Capital is encouraging Russian borrowers to consider the dim sum market as a supplementary source of funding because their access to core markets has been restricted since the US imposed sanctions in April. However, the potential scale of the dim sum market is limited.
