EuroChem goes inside curve with rouble bond
Eurochem, a fertiliser company registered in Switzerland, hit screens last week for a pair of rouble-denominated bonds, raising a combined Rb20bn at a level inside its curve.
The borrower printed Rb10bn with a tenor of three and a half years and another Rb10bn with a tenor of four years. Both bonds carry coupons of 7.85% and were priced at par.“It’s not uncommon to issue separate bonds close together in the curve in roubles,” said Oxana Kovalenko, ...
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