Russia staged a successful return to the sovereign debt market yesterday, raising $5.5billion in its first Eurobond since the country's 1998 default.
The issue, which was more than two times oversubscribed, was divided into a $2billion five-year tranche priced 125 basis points above U.S. Treasuries and a $3.5bn 10-year tranche priced 135bp above Treasuries.
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