Russia: Denholm Hall gets Sharpe with rouble debt

George Nianias talks to Guy Norton about the challenges of unearthing corporate debt opportunities in the far-flung reaches of Russia.

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George Nianias, Denholm Hall

“As a smart lender we only take on smart borrowers”
George Nianias, Denholm Hall

IN THE WAKE of 1998’s financial melt down in Russia there are still investors for whom the thought of exposure to Russian gas company Gazprom in even dollar Eurobond format induces a cold sweat. Even the comfort factor of Gazprom’s investment grade ratings, the tried-and-tested legislation governing Euromarket issuance and the fact that the company is effectively an extension of the again mighty Russian state would still cause them palpitations.

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