Norilsk Nickel first out of blocks as bankers expect positive run to end of year
Russian nickel and palladium producer Norilsk Nickel has kept momentum from a roadshow last week to hit the market with a five year benchmark dollar trade as two other issuers prepared investors for their own deals this week.
Joint global coordinators and bookrunners Citi, JP Morgan and Société Générale gave initial price thoughts in the 3.625% area on Monday morning. Gazprombank, ING, Sberbank CIB and VTB Capital were joint bookrunners. Norilsk is rated Baa2/BBB-/BBB-.The deal comes one week after compatriot issuer Uralkali
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