Norilsk Nickel Revives Russia Eurobonds With Benchmark Note
- Nation's biggest miner offers 7-year bonds yielding 6.625%
- Gazprom sold last benchmark Eurobond in November 2014
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GMK Norilsk Nickel PJSC, Russia biggest mining company, is raising $1 billion in the first benchmark-sized Eurobond out of the country in almost 11 months.
The seven-year note is being offered yielding 6.625 percent, down from initial guidance of about 7 percent, according to a person familiar with the deal who asked not be identified because information is private. The yield on its dollar bond due in October of 2020 fell four basis points to 5.626 percent on Tuesday, 67 basis points below this year’s average.