Sibur shrugs off Saudi drone attack to print $500m
Russian petrochemicals firm Sibur was able to print $500m of five year paper in its return to the bond market this week, brushing off news of a drone attack on Saudi oil infrastructure and a subsequent 10% jump in the oil price.
Sibur’s new benchmark was priced with a yield of 3.45%, 30bp inside initial price thoughts. The bond is bid at par in the secondary market. Gazprombank, Goldman Sachs, JP Morganand Sberbank ran the books.A banker at one of the leads called this a 5bp new issue premium. ...
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