Borrowers: Borrowers start to play a strategic game
Borrowers have become aware that high-profile issues offer more than just finance. They are also a good advertising medium. When the City of Moscow recently launched its debut Eurobond, the effect was as much to publicize Russia’s ancient capital, celebrating its 850th anniversary this year, as to raise finance. Bond launches attract the kind of people politicians and local government want on their side.
The Russian delegation may have overdone it when likening the discovery of Russia’s financial marketplace to the discovery of America.
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