Investment in Russia and Eastern Europe Message Board

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Strategies & Market Trends : Investment in Russia and Eastern Europe

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To: Real Man who started this subject	2/24/2003 5:46:18 PM
From: Copperfield	Read Replies (1) of 1301

Gazprom's $1.75B bond sparks big demand February 24, 2003 11:04am MOSCOW - A US$1.75-billion Gazprom bond, the biggest-ever private corporate issue in the emerging markets was heavily subscribed at its launch on Friday amid growing demand from international investors for Russian assets. The bond from the giant gas monopoly came a week after BP, the international oil company, made one of the largest foreign direct investments in the Russian energy sector worth US$6.75-billion. "What we are seeing is the beginning of a Russian corporate boom among a broad range of international investors," said Ingrid Iverson, fund manager at Rothschild Asset Management, which bought some of Gazprom's bonds. Investors were surprised at the level of demand as the price of the bond climbed in the grey market before it was launched.

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