Russian Railways green bond orders top €1.4bn

Russian Railways train 230x150
By Francesca Young
16 May 2019

Books for Russian Railways’ eight year euro green bond had breached the €1.4bn mark by lunchtime on Wednesday, allowing leads to tighten pricing. A banker away from the note said the levels offered looked fair.

Initial price guidance for the deal started at 2.5% area before being tightened to 2.375% area.

A syndicate official away from the deal said the initial guidance was exactly what  he would have suggested. Having spotted Russian Railways 2023s trading around 155bp-160bp over mid-swaps, he used similar points ...

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