Severstal sells $475m CB
Russian steel firm Severstal raised $475m from a convertible bond on Wednesday after launching a transaction that had been tweaked overnight after pre-sounding had taken place. It was priced at the tight end of terms despite a conversion premium that looked aggressive with the increase option partially used.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts