Financial borrowers from the former Soviet Union raised billions of dollars on the international bond market in June in deals targeting Asian investors. These borrowers are capitalizing on the relative lack of yield and supply in Asia, where investors have plenty of cash to burn.
Home & Credit Finance Bank, a Czech-owned Russian consumer finance bank, raised a $275 million three-year bond on June 17. Lead managers ING Bank and Merrill Lynch managed to sell 30% of the deal to Asian investors.
In the same week, Ukraine's Ukrsibbank raised $125 million...
