Acted as co-advisor with Credit Suisse First Boston to the Agency for the Government Debt of the Republic of Tatarstan on its debut 700 million Ruble ($120 million equivalent) Treasury Bill offering on MICEX (Moscow Interbank Currency Exchange) which at the time was the first bond placement (municipal or corporate) in Rubles on the Russian Capital Market. Following this pioneer transaction, a multi-billion dollar corporate and municipal debt market has developed in Russia and MICEX has become the largest securities exchange in Russia and Eastern Europe.