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Bank Delaying Eurobond

Rosselkhozbank decided to postpone a possible eurobond issue after a series of investor meetings earlier this month due to weak markets, a banking source said Monday.

The state-owned lender picked Citigroup, JPMorgan and VTB Capital to arrange meetings with investors from May 9 to gauge demand for a eurobond issue, a banking source said in May.

Rosselkhozbank had hoped to benefit from positive risk sentiment toward emerging markets. "The bank had held investor meetings but did not even open the book. … Markets are not very favorable, [it] will wait till conditions improve," the source said Monday.

(Reuters)

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