CAPITAL MARKETS

HSBC backs out of Norilsk raising

RUSSIA’S appeal as an investment destination for mining companies has taken a severe knock with one of the world’s biggest banks withdrawing from a planned cash raising by Norilsk Nickel.

Tim Treadgold
HSBC backs out of Norilsk raising

HSBC said it was pulling out of a US$500 million syndicated loan because of the Russian Government’s continued campaign against the oil giant, Yukos. The withdrawal should not effect Norilsk’s plans...

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