The amount of debt issued by Russian companies has collapsed due to fears of Western sanctions over the crisis in Ukraine. In the first three quarters of this year the total amount of foreign-currency debt plummeted 83% compared to the same period last year. Nomura Securities estimates that the total value of sales was $9.8 billion so far in 2014 compared with $52.2 billion sold through the whole of last year. The Financial Times reports that Russian companies are being frozen out of the bond market due to lingering fears after US financial institutions were handed heavy fines for breaching …read more
Source: Business Insider
