Western lenders are attempting to offload loans to Russian borrowers in the secondary market, cutting exposure to the region in response to the increasing unease following Russia's seizure of Crimea. They are looking to lower holdings of loans for Russian banks, as well as performing and non-performing corporate credits, through both portfolio and single-name sales. "Most banks are getting nervous now and the loan market is starting to see a flow of Russian names coming from banks at good prices. All [financial institution] deals used to be shown at par or above and it was very difficult to source the paper as no one wanted to sell. Now the loans are being shown everywhere and at levels below par," a loan trader said.
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