Barclays to cut Russian corporate debt from Global Aggregate index



The removal of the debt from six issuers will be done at the end of February during the month-end rebalancing, Barclays said in a research note. The firm said this removal represents $35.8 billion (23.2 billion pounds)in debt outstanding. The market value is estimated at $32.68 billion, the firm said.
Affected debt issues in U.S. dollars, euros, British pounds and Swiss francs will no longer contribute to the index returns as of March 1, 2015. The firms are Gaz Capital SA, OJSC Novolipetsk Steel, Novatek Finance Ltd, Russian Railways, Gazprom Neft, and Uralkali OJSC.
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27 February 2015 in Business, Views: 37
Source: Reuters
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