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LONDON, April 19 (IFR) - Russia's government has canvassed opinion from international banks about their working on its forthcoming bond deal.
The sovereign has sounded out international investment banks through a London-based advisor, Newstate Partners, according to several sources.
Newstate Partners did not respond to a request for comment.
One banking source said the deadline to express views passed last week and that any bank that showed interest is likely to receive an RFP as part of a formal mandate process.
Russia is expected to issue a US dollar-denominated Eurobond in the coming weeks.
Although the sovereign is not subject to US or EU sanctions, international banks have been wary of working on a bond deal, after deciding the reputational risks of participating in a sovereign transaction outweighed the potential boost to business.
Last May, Russia sold its first US dollar new issue in nearly three years, with VTB Capital acting as sole lead manager after international banks came under pressure from US and EU authorities not to underwrite the bond.
That US$1.75bn offering was tapped in September for a further US$1.25bn, again with VTB Capital acting as sole lead manager. (Reporting by Sudip Roy; editing by Philip Wright and Alex Chambers)