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Weekly Lists
April 13, 2018 www.intellinews.com I Page 29
bne:Credit
US Treasury still sees "nuclear option" of sanctioning Russia bonds as bad idea
The US Treasury Secretary Steven Mnuchin considers the so-called "nuclear option" of sanctioning Russian sovereign debt is still
a bad idea, after a draft bill including the measure was introduced to Congress last week.
The US government has caused turmoil in the Russian securities with a new round of sanctions that some are calling a “game changer,” but so far it has shied away from targeting Russian state bonds out of fear of hurting the wider market and non-Russian investors.
But anything seems possible after the Treasury directly sanctioned a number of Russian tycoons and also forbade investing in their existing securities on April 6, including global listed majors such as Oleg Deripaska's Rusal and En+.
Ukraine needs to raise around $8bn on foreign markets for well- timed servicing of its debt commitments, the World Bank's lead economist and programme leader Faruk Khan told journalists on April 10.
Khan expressed the opinion that for the successful attraction of the financing, which Ukraine needs, it is important to continue coop- eration with the International Monetary Fund (IMF) this year and the coming years. The banker believes that it would be an important signal for international capital markets, according to Interfax news agency. Currently the programme has been de facto suspended since the end of last year due to the government’s foot dragging on key reforms, the anti-corruption drive first and foremost.
Turkey’s leading glassmaker Sisecam has decided to issue up to $750mn worth of debt instruments on foreign markets, the company said on April 11 in a bourse filing.
Sisecam will transfer some parts of the proceeds from the planned Eurobond issue to its subsidiaries Trakya Cam, Anadolu Cam, Soda Sanayii and Pasabahce depending on the guarantees provided by the affiliates in question, the statement from Sisecam added.
Ukraine needs to raise $8bn in 2018- 2019 on foreign capital markets, World Bank says
Turkey’s Sisecam to issue up to $750mn of Eurobonds