Published: July 16, 2010
Russia’s first foray into the international debt markets since 1998 was a success. Now comes the next leg of the journey. Julian Evans reports.
More than a decade after Russia’s debt default, the government has finally re-entered the international debt market. In April, it issued its first eurobond since 1998, raising US$5.5bn via five-year and 10-year bonds, which were priced at 1.25% and 1.35% over US Treasuries respectively. That means Russia is now trading at lower levels than many European countries, including Spain.
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