Eurobond Flotation by Russian Corporations and Finance Institutions
Eurobonds are one of the key instruments of international corporate financing. The article studies Eurobond market as a source of raising cash by Russian corporations and finance institutions. It provides structural parameters of Eurobonds and depicts types of securities available on debt market for...
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| Format: | Article |
| Language: | Russian |
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Plekhanov Russian University of Economics
2020-12-01
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| Series: | Вестник Российского экономического университета имени Г. В. Плеханова |
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| Online Access: | https://vest.rea.ru/jour/article/view/967 |
| _version_ | 1797702744317886464 |
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| author | A. A. Tarasov |
| author_facet | A. A. Tarasov |
| author_sort | A. A. Tarasov |
| collection | DOAJ |
| description | Eurobonds are one of the key instruments of international corporate financing. The article studies Eurobond market as a source of raising cash by Russian corporations and finance institutions. It provides structural parameters of Eurobonds and depicts types of securities available on debt market for Russian issuers (issues with one or several tranches, benchmark issues). The author analyzes results of Russian issuers’ flotation, including high activity on Eurobond market of exporting companies and successful flotation of ruble Eurobonds. The article studies transaction aspects of Eurobonds market: the role of principle participants of the deal (leading managers, global coordinators, book-runners) and key stages of the security flotation process (getting the credit rating, preparation of legal papers, syndication and marketing on market). It makes a comparative analysis of key instruments of raising finance by Russian borrowers on international markets of debt capital – Eurobonds and syndicated credits. These instruments both compete and supplement each other, which was proven by using the combination of Eurobonds and syndicated credits by leading borrowers. The article comes to the conclusion that combined use of these debt instruments for solving a wide range of finance problems is optimal for corporate capital structure and finance institutions. |
| first_indexed | 2024-03-12T04:55:22Z |
| format | Article |
| id | doaj.art-03f01d6200cb4065a52993841e90572e |
| institution | Directory Open Access Journal |
| issn | 2413-2829 2587-9251 |
| language | Russian |
| last_indexed | 2024-03-12T04:55:22Z |
| publishDate | 2020-12-01 |
| publisher | Plekhanov Russian University of Economics |
| record_format | Article |
| series | Вестник Российского экономического университета имени Г. В. Плеханова |
| spelling | doaj.art-03f01d6200cb4065a52993841e90572e2023-09-03T09:15:24ZrusPlekhanov Russian University of EconomicsВестник Российского экономического университета имени Г. В. Плеханова2413-28292587-92512020-12-01176546110.21686/2413-2829-2020-6-54-61770Eurobond Flotation by Russian Corporations and Finance InstitutionsA. A. Tarasov0Российская академия народного хозяйства и государственной службы при Президенте Российской ФедерацииEurobonds are one of the key instruments of international corporate financing. The article studies Eurobond market as a source of raising cash by Russian corporations and finance institutions. It provides structural parameters of Eurobonds and depicts types of securities available on debt market for Russian issuers (issues with one or several tranches, benchmark issues). The author analyzes results of Russian issuers’ flotation, including high activity on Eurobond market of exporting companies and successful flotation of ruble Eurobonds. The article studies transaction aspects of Eurobonds market: the role of principle participants of the deal (leading managers, global coordinators, book-runners) and key stages of the security flotation process (getting the credit rating, preparation of legal papers, syndication and marketing on market). It makes a comparative analysis of key instruments of raising finance by Russian borrowers on international markets of debt capital – Eurobonds and syndicated credits. These instruments both compete and supplement each other, which was proven by using the combination of Eurobonds and syndicated credits by leading borrowers. The article comes to the conclusion that combined use of these debt instruments for solving a wide range of finance problems is optimal for corporate capital structure and finance institutions.https://vest.rea.ru/jour/article/view/967еврооблигациирынки долгового капиталапроцесс синдикацииинвестиционно-банковские услугипривлечение корпоративного финансирования |
| spellingShingle | A. A. Tarasov Eurobond Flotation by Russian Corporations and Finance Institutions Вестник Российского экономического университета имени Г. В. Плеханова еврооблигации рынки долгового капитала процесс синдикации инвестиционно-банковские услуги привлечение корпоративного финансирования |
| title | Eurobond Flotation by Russian Corporations and Finance Institutions |
| title_full | Eurobond Flotation by Russian Corporations and Finance Institutions |
| title_fullStr | Eurobond Flotation by Russian Corporations and Finance Institutions |
| title_full_unstemmed | Eurobond Flotation by Russian Corporations and Finance Institutions |
| title_short | Eurobond Flotation by Russian Corporations and Finance Institutions |
| title_sort | eurobond flotation by russian corporations and finance institutions |
| topic | еврооблигации рынки долгового капитала процесс синдикации инвестиционно-банковские услуги привлечение корпоративного финансирования |
| url | https://vest.rea.ru/jour/article/view/967 |
| work_keys_str_mv | AT aatarasov eurobondflotationbyrussiancorporationsandfinanceinstitutions |