U.S. bank Citi (C.N) is seeing business pick up in Russia as the country’s economic crisis abates and is staying as engaged as it can given Western sanctions, its Russia head said.
Marc Luet, who is also Citi’s head for Ukraine and Kazakhstan, said his bank has become busier with Russian mergers and acquisitions (M&A) and that there is growing interest in corporate debt issuance.
“We’re seeing a pick-up in debt capital markets (DCM). Part of it is liability management, part of it is new issuance,” Luet said in an interview at the Reuters Russia Investment Summit.
Russian debt issuance slowed to a trickle after the United States and European Union imposed sanctions on Russia in 2014 over the Ukraine conflict.
Read More: http://www.reuters.com/article/us-russia-citigroup-idUSKCN11J1JI
Source: Reuters (13 September 2016)