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Foreign Investors Reportedly Buy $1.3 Billion Of Russian Eurobond Offering

Foreign investors on May 23 and 24 bought around $1.3 billion of a Eurobond offering by Russia – its first since sanctions were imposed against it for forcibly annexing Crimea and Moscow’s support for separatists in eastern Ukraine.

Reuters quotes financial market sources as saying that Russia sold $1.75 billion of the 10-year Eurobonds at a yield of 4.75 percent.

The sources said $1.3 billion of those sales involved foreign investors from Europe, the United States, and Asia.

Russia launched the Eurobond offering on May 23 and extended the sales by a day in the hope of attracting Asian investors.

Some Western banks said they were not taking part amid concerns about the sanctions risk.

Based on reporting by Reuters, AP, AFP, and TASS