February 16, 2017 |
Demand for Russian steelmaker Severstal’s 4.5-year dollar-denominated Eurobonds maturing in August 2021 has exceeded U.S. $1 billion, a banking source told PRIME on Thursday.
The company is offering the Eurobonds with a yield guidance of about 4%, a banking source said earlier in the day.
Severstal held a road show in Europe and the U.S. on February 10–Wednesday. Citi, ING, J.P. Morgan and SG CIB were appointed as the organizers.
Earlier in February, Severstal sold $250 million convertible Eurobonds with a zero coupon and a 3-year buyback offer. The initial price of conversion into Severstal’s global depository receipts (GDRs) amounted to $20.33 per GDR with a 35% premium to the market.
|Full company name||Severstal PJSC|
|Country of risk||Russia|
|Country of registration||Russia|