From the monthly archives:

August 2009

Credit Suisse and Merrill Lynch advise Sistema on $1.27bn Comstar deal

by admin on August 5, 2009

By Jason Corcoran in Moscow
Investment banks Credit Suisse and Merill Lynch have have advised the conglomerate Sistema on the $1.2bn  sale of a 50.9% stake in fixed-line telecoms provider  Comstar UTS to  mobile operator MTS.
The deal between the two Sistema subsidiaries is scheduled to close at the end of October, while no decision has been [...]

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COMMENT: Russian issuers face up to onerous new limits on foreign IPOs

by admin on August 4, 2009

New Russian foreign listing rules could hike the cost of equity capital for Russia companies at a time when many of them are over-leveraged and starved for equity financing, according to the Corporate Department of Latham & Watkins in Moscow.
In June 2009, the Russian Federal Service for the Financial Markets (FSFM) published proposed amendments to [...]

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VEB cleared to invest in non-sovereign bonds by November

by admin on August 3, 2009

By Ivan Anderzhanov in Moscow
Russia’s state development bank Vnesheconombank (VEB) will be allowed to purchase non-government bonds by November, according to new rules expected to be approved by the government shortly.
The new rules will enable VEB to increase its portfolio allocation of non-sovereign bonds to 40%. The credit rating of the bonds, other than government, [...]

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