Eurochem makes splash on re-entry with $5bn book
Investors flocked to Eurochem's five year return to the bond market, taking pricing to a 5.125% yield, the tight end of guidance. The issue of $750m 2017s, priced at par, has showcased the demand for non-blue chip Russian corporates.
The deal was Eurochem's first since 2007 and was arranged by Barclays, BNP Paribas, Citi and Sberbank.
The company is an old favourite but an infrequent issuer, and investors that have been working in the markets since 2007 were very happy to see it active again, said Nick Darrant,
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