Norilsk goes for dollars but spill scandal concerns remain
Norilsk Nickel, the Russian metal and mining company which has found itself under heightened scrutiny in recent months after a series of major oil spills, is set to raise a dollar denominated benchmark bond this week. Russian telecom major Veon was also in the market for its second rouble offering in recent months.
Norilsk Nickel’s RegS/144A dollar senior unsecured bond will have a tenor of five years. Investor calls are being held on Tuesday and Wednesday.
The issuer, rated Baa2/BBB-, has come under increased scrutiny of late after it was found to be responsible for oil spills in Russia’s Arctic region. The ...