Severstal opener steels ChelPipe, Sibur
The first deal of the September rush set an impressive bar for a rush of borrowing from its peers in the commodities sector. Russia's Severstal pulled off an $800m five year bond priced flat to its curve, achieving the lowest yield ever for a corporate from the region.
Steel producer Severstal hit screens on Monday with the first deal of September from an emerging markets borrower. Its compatriot issuers, ChelPipe and Sibur, are expected to follow soon.Sibur has mandated Gazprombank, Goldman Sachs, JP Morgan and Sberbank to arrange a roadshow in London, ...
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