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Russia's Otkritie Bank bonds jump as much as 20 cents on cbank rescue
August 29, 2017 / 2:20 PM / 3 months ago

Russia's Otkritie Bank bonds jump as much as 20 cents on cbank rescue

LONDON, Aug 29 (Reuters) - Dollar bonds from Russia’s Otkritie Bank leapt in price by as much as 20 cents on Tuesday after the central bank said it would rescue the troubled lender, one of the country’s biggest.

Otkritie’s $500 million bond maturing April 2019 rose to 65 cents, according to Tradeweb data, while the Noveber 2019 issue jumped 8.5 cents. The April 2018 bond rose 5 cents in price.

Otkritie was one of several banks to suffer a drop in liquidity after the central bank withdrew the licence of Yugra bank, causing market concerns about the stability of the Russian banking sector. (Reporting by Sujata Rao; editing by Alexander Winning)

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