Naftogaz at head of Ukraine trio in debt market
Three Ukrainian borrowers are set to come to market for hard currency paper, perhaps as early as this week. The deals are expected to go well, as investors generally believe there is good value in Ukrainian assets.
Naftogaz was first out of the gates, hitting the market on Monday for a $500m seven year no-grow. Citi is sole lead for the Reg S/144A bond, offering initial price thoughts of 7.875% area.“That looks like quite a tight starting level,” said a banker away from ...
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