Norilsk sevens avoid new issue premium
Russian mining firm Norilsk Nickel priced a $1bn seven year bond flat to its own curve late last week, attracting over $6.7bn of orders amid a surge in risk appetite after a temporary solution was found to the US debt ceiling problem. But perfect timing and a weak Norilsk curve means other issuers are unlikely to be able to cast off new issue concessions, said debt bankers.
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