Norilsk goes for dollars but spill scandal concerns remain

By Mariam Meskin
01 Sep 2020

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 ...

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