Debt market analyst Alexander Yermak said that Russian companies will be able to return to the settlement of new bond issuances in May-June under favorable conditions. “Hitting the Primer”.
According to him, the decision to cut the interest rate to 17% and the possibility of the Central Bank to allow further rate cuts at subsequent meetings were the first positive signals for the resumption of the primary bond market in the near future. First of all, it concerns the placement of new bond issues by institutional issuers. At the same time, the expert noted that it is too early to talk about the level of profitability and the urgency of new borrowings.
Yermak pointed out that until recently, the bond market competed with the money market and the profitability of operations was driven by the level of the key ratio. However, after the Central Bank of the Russian Federation’s key rate cut by 300 basis points at once, the investment attractiveness of money market transactions decreased significantly and approached the current rates in the bond market.
Previously at the Ministry of Economic Development in your name Deadline for the Russian economy to return to 2021 levels.