Russian Metals Miner to Issue Dollar Bond
06 Octubre 2015 - 6:10AM
Noticias Dow Jones
Metals miner Norilsk Nickel is set Tuesday to become the first
Russian company to issue a bond in U.S. dollars in over nine
months, according to a deal notice seen by The Wall Street
Journal.
The company would have to pay a semiannual interest rate of
around 7% on a bond that would come due in October 2022, according
to initial pricing guidance provided in the deal notice. The bond
is expected to be priced later on Tuesday, the deal notice
said.
Norilsk Nickel is the world's largest producer of nickel and
palladium, and a large producer of platinum and copper, according
to the company's website. Norilsk Nickel didn't immediately return
a request for comment.
No Russian company has borrowed money in U.S. dollars since
January, according to data provider Dealogic.
The average yield on Russian corporate and quasi-sovereign
corporate debt denominated in U.S. dollars rose to over 13% last
December, according to Barclays. That followed a collapse in the
price of oil; international sanctions on some Russian companies and
individuals; and an escalation of the conflict in Ukraine. The
yield, which falls as prices rise, has since dropped to 6.45%,
according to Barclays.
Write to Christopher Whittall at
christopher.whittall@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 06, 2015 06:55 ET (10:55 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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