Severstal gets $500m with second Russian corporate bond in a week
Severstal, the Russian steel company, priced a $500m five year bond yesterday at par with a coupon of 6.25%, only four working days after its rival Metalloinvest had sold a $750m note, while Severstal decided to delay.
The Severstal note was sold via Barclays Capital and Goldman Sachs, neither of which was one of Metalloinvests nine bookrunners.
There was a brief period of stability on Wednesday last week, but we decided it was not enough to push ahead as the market was likely to require a
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.