FGC powers up with debut Rb17.5bn bond
Federal Grid Company printed its Rb17.5bn ($567m) 6.25 year bond at 8.45% on Wednesday, showing that the huge bid for EM bonds extends to local currency deals as well. The note was the debut deal for the electricity transmission company.
Lead managers Barclays, Sberbank CIB and VTB Capital built a Rb37bn book for the deal.
Up until recently, $250m-equivalent used to be the benchmark for rouble bonds, because demand just didnt support anything larger, said Fabianna Del Canto, an emerging markets syndicate official at Barclays in London. But
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