MOSCOW Dec 16 The Russian arm of Austrian
lender Raiffeisen Bank International (RBI) is battling
for Eurobond mandates and has several deals lined up for next
year, one of its senior bankers told Reuters.
Russia's Eurobond market has started to recover this year
after Western sanctions over the Ukraine conflict and poor
market sentiment restricted new issues to just $3 billion in
This year, there have been around $15 billion of issues,
including a $3 billion sovereign Eurobond.
"We're now actively fighting for new mandates, and there are
already several deals in the works for the first half of 2017,"
said Oleg Gordienko, head of investment banking at
Raiffeisenbank, RBI's Russian unit.
"But it's a difficult fight. Now it's a time for borrowers,
and there is a very serious competitive struggle for quality
clients," he said, adding Raiffeisenbank had arranged four
Eurobond deals this year and was battling for Russian blue-chip
firms as well as second-tier companies.
Raiffeisenbank did not arrange any Eurobond deals in 2014 or
Russian exporters with foreign-currency revenues including
Gazprom have been most active on Eurobond markets, and
Gordienko said volumes in general could be higher in 2017.
Oksana Panchenko, a Raiffeisenbank board member, told
Reuters the bank's corporate loan book was stable at present but
that next year it could grow.
(Reporting by Alexander Winning and Kira Zavyalova; Editing by