Lawsuit Is a Buzz Kill to Yield Chasers Who Thought Russia Was Safe
- Sistema bonds traded near record low before $1.9 billion case
- Shock could push up Russian borrowing costs: Union Investment
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Investors in Russia just a got a $1.9 billion reality check.
Dollar bonds of Russian billionaire Vladimir Evtushenkov’s Sistema PJSC traded with a record-low yield the day state-run oil producer Rosneft PJSC filed a legal claim for that amount against it. The news triggered a correction of 150 basis points, sending yields to the highest level in 11 months.