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.

HSBC backs out of Norilsk raising HSBC backs out of Norilsk raising HSBC backs out of Norilsk raising HSBC backs out of Norilsk raising 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.

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