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May 10, 2019 www.intellinews.com I Page 12
As usual the biggest issues were from Russian companies which raised a total of $9.3bn from five issues, but that is well ahead of the mere $185mn that was raised last April, the month that the US released its punitive April 6 round of sanctions targeting some of Russia’s top businesses.
The shock of last year’s sanctions means that year to date Russia has raised almost the same amount as over the first four months of last year when companies issued a total of $9.4bn.
April was also down on a big month in March when a total of $6.2bn was issued, but half of that was due to a highly successful sovereign issue that raised $3bn and €750mn on the international markets.
Amongst the more interesting issues in April from Eastern Europe was a $500mn bond from the Development Bank of Belarus, a relatively new entity that has been tasked with modernis- ing the Belarusian economy and has made some real inroads already.