"No one can question the deterioration in the sovereign balance sheet or banking system, but it seems counterintuitive to cite possible financing gaps when a large, " bond issuance was about to close, said RichardSegal, emerging market strategist at Jefferies International.
"It has been an opportune time for corporate borrowers from Eastern Europe to tap the international bond markets, with many Russian, Kazakh and Ukrainian names taking advantage of the stretch for yield to borrow in dollars for the first time since the global crisis, " says RichardSegal, emerging-market strategist at Jefferies International.