10/19/09 Stockholm, Sweden – Not to be outdone by China’s recent bond offering, Russia is now planning to raise $18 billion in its first international bond sale in about ten years.
The securities will be dollar-denominated and offered toward the beginning of 2010. Russia is planning to take advantage of its position as an emerging market, with yield spreads that have narrowed from about 750 to roughly 240 basis points over US Treasuries.
BRIC countries are not alone in newfound confidence in the capital markets. Other countries including Hungary and Lithuania now appear safer despite their relatively weaker economies.
It’s another sign of the times that countries around the globe are seizing this moment of relative financial weakness in the US to gain economic clout.
More specifics are available from the Financial Times in coverage of Russia raising $18 billion in a new bond sale.
Rocky Vega
Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let’s Go Publications, Harvard Student Agencies, and The Harvard Advocate.
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