Reuters reveals Battered Russia bonds a risk too far, says distressed debt fund Gramercyon March 25, 2022 at 11:09 am

Reuters exclusively revealed distressed debt hedge fund Gramercy, which made a killing on Russian bonds after the 1998 crisis and has taken on Argentina and Venezuela over defaulted debt, says a bet on Russia now is too big a risk even with bonds trading at a tenth of face value. Robert Koenigsberger, whose first trade as founder of Gramercy in 1998 was scooping up battered Russian bonds, said Moscow had shown a surprising willingness to service external debts despite sanctions imposed over its actions in Ukraine. But, Koenigsberger told Reuters, Russia’s capacity to pay is running out of road as systems for settling and clearing trades and transferring bond ownership titles break down.

The post Reuters reveals Battered Russia bonds a risk too far, says distressed debt fund Gramercy appeared first on Reuters News Agency.

Some of the links in this article are "affiliate links", a link with a special tracking code. This means if you click on an affiliate link and purchase the item, we will receive an affiliate commission. The price of the item is the same whether it is an affiliate link or not. Regardless, we only recommend products or services we believe will add value to our readers. By using the affiliate links, you are helping support our Website, and we genuinely appreciate your support.

Comments are closed.

Powered by WordPress.com.

Up ↑

Expat Life-Off Trek Asia
%d bloggers like this: