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. Last Updated: 07/27/2016

CSFB Plan Supported

MOSCOW -- Credit Suisse First Boston won support for its treasury bill restructuring plan from Nomura Securities, which said its proposed fund beat Russia's deal.

"The concept is very positive for two reasons," Dan Jackson, managing director of Nomura Securities in London, said Thursday. "The fund will invest in infrastructure projects and it sets up a vehicle which can offer voluntary terms of restructuring instead of unilateral terms suggested by the Russian government."

CSFB is among the Western investors unhappy with the terms of Russia's debt revamp. The government blasted CSFB's idea earlier this week and said it would not make any more concessions to debt holders. Russia is expected to present a final deal Monday.