Boris Ginzburg participated in the IFR Markets round table "Russian Debt Markets"

At the beginning of June, Boris Ginzburg, Head of Fixed Income at URALSIB Capital, participated in the round table "Russian Debt Markets" hosted by leading global financial magazine, IFR Markets.

Among the participants that attended the round table there were Raj Tanna, the Chief Operating Officer of Deutche Bank in Russia, Michael Gibault, Director of Investment Banking Management and Chairman of TROIKA DIALOG, Irakli Mtibelishvili, Managing Director and Chairman of the board of Citigroup in Russia, Stepan Amosov, Director of ING Structured Products Group, as well as Keith Mullin, editor of IFR magazine, and Bakit Azikmanov, a reporter for IFR magazine.

The participants discussed matters such as financing the Russian economy, the access of Russian companies to international and domestic capital markets, the Russian Government returning to international debt market, consolidation of the Russian banking system, and important acute matters.

Speaking at the round table, Boris Ginzburg highlighted that one of the main outcomes of the financial crisis is the localization of the Russian market. Domestic companies have come to realize that only raw material exporters earning profits in foreign currency can borrow in such a currency, while the rest borrow rubles. According to Ginzburg, companies are now refinancing their debts and trying to stabilize their balance sheets. They convert their currency debts into ruble debts, and extend maturities.

July 06, 2010