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What do you consider to be an adequate margin level for a standard OECD ECA-covered financing?

Below 30 basis points
15%
Below 50 basis points
20%
Below 90 basis points
29%
Over a 100 basis points
35%

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Russian companies have certainly become more sophisticated in their approach to the market and realise that it is not simply about the cheapest cost of funding. It is also about having longer-term capital structures in place.

William Husband, head of metals and mining with Citi Global Banking, based in Moscow.


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