Yandex offers CB buyers taste of Russian tech

By Aidan Gregory
25 Feb 2020

Yandex, the Russian internet company, reopened the equity-linked bond primary market in EMEA after more than a month without any new issues, with a $1.25bn five year convertible bond. The deal was priced at the midpoint of the terms, suggesting healthy demand.

Yandex’s transaction was launched in the wake of a huge global equity market sell-off on Monday, triggered by the spread of the Covid-19 coronavirus in Italy, South Korea and Japan.

The day before launch, the S&P 500 suffered its biggest decline for two years. Yandex’s Nasdaq-listed shares fell ...

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