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ICBC To Take Part in Managing Russian Eurobond

Industrial and Commercial Bank of China (ICBC) wants to take part in the organization of Russian sovereign Eurobonds this year and responded to the invitation from the Russian Ministry of Finance, Deputy Chairman of the bank told Russia’s RBC newspaper.

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Russia invited 25 foreign and three local banks to participate in the auction to arrange up to $3 billion in Eurobonds this year, in what will be his first foray into the international debt markets since 2013.

But US officials have warned, according to reports, some US banks that bid for the deal would undermine sanctions against Moscow over its role in the conflict in Ukraine.

On Tuesday, the Russian Finance Minister Anton Siluanov said European banks have more chances than we have those who are among the organizers of the bonds.

ICBC is one of four Chinese banks invited to organize Eurobonds that the German lender Deutsche Bank will also meet with the Ministry of Finance of the Russian express interest in his organization.

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