Russian tycoons, fearing new sanctions, float idea of new treasury bond: sources
It would be forex-denominated and holders may be anonymous; but no indication that the Russian government is seriously considering such a move
Moscow
WEALTHY Russians facing the prospect of targeted US sanctions next year have floated the idea of a special treasury bond to facilitate favourable terms for bringing their cash home, three sources familiar with the scheme said.
The bond, denominated in foreign exchange, would be offered at a higher yield than bank rates and be more liquid than Eurobonds, the sources said. Crucially, unlike with bank accounts, holders would be able to remain anonymous.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
BNP Paribas beats estimates as lower costs offset trading slump
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
Barclays Q1 profit falls 12% as mortgage competition, deals drought hit
Deutsche Bank Q1 profit jumps 10% as investment bank outperforms
Latest Singapore 6-month T-bill offering cut-off yield of 3.74% as applications dip
Morgan Stanley Asia private equity unit to reorganise as CEO retires