Severstal first off the blocks with dollar benchmark

Severstal machinery 230x150
By Lewis McLellan
09 Sep 2019

Severstal, a Russian steel manufacturer, hit screens on Monday morning with a five year dollar benchmark.

The borrower selected Citi, JP Morgan and Société Générale as joint global coordinators and bookrunners. ING, Sberbank and VTB Capital share the ticket as bookrunners.

The leads offered initial price thoughts of 3.5% area for the five year Reg S/144A loan participation notes.

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