Russian Funds Play Vultures With Croatia's Distressed Debt
- Agrokor bonds trade at record low as company nears bankruptcy
- Moscow-based UFG Wealth Management bets price will double
A view of Bana Jelacica Square and Zagreb Cathedral in Zagreb, Croatia.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Russian investors are taking the global hunt for yield to the extreme.
Priced out of their own bond market by investors fleeing sub-zero yields in Europe, local banks and wealthy Russians are seeking out higher returns from the distressed bonds of Agrokor d.d., Croatia’s biggest company.