The rivaling offers from Russian billionaires to rescue the Polish vodka maker CEDC is spurring rumors that the company would be able to stave off bankruptcy. This speculation has caused its bond yields to fall to its lowest in ten months.

One of the biggest shareholders in CEDC is Roustam Tariko is competing with Mikhail Friedman's Alfa Group on their individual bids to save the vodka maker. Another player in the game is SPI Group, the owner of the Stolichnaya Vodka said they had hired Nomura Holding Inc to 'evaluate alternatives" as to CEDC.

CEDC earlier said that without a rescue plan in place by Feb 25, it may opt to file for bankruptcy as it would be unable to fulfill its obligation of US$258 million in notes due on March 15. During these speculative bidding, the maker of Bols, Zubrowka and Zelyonaya Marka saw its Eurobond yield due on 2016 tumble by as much as 987 basis points.