Bankers said that the syndicated loan market has been effectively closed since sanctions were imposed in April and banks have been reducing their exposure by selling Russian loans in the secondary loan market.
Some lenders said that this process will be difficult to reverse and the Russian loan market could be closed for up to a year. Invitations for the pre export deal were sent to about seven banks this week.
Bankers close to the deal are expecting that more positive sentiment toward
Bankers said that none of the invited banks have got approval from their credit committees to join the deal yet. Lenders will want time to assess the situation, many have made the radical decision to step away from
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