Vimpelcom shows appetite for sub-IG Euroroubles

08 Feb 2013

Vimpelcom printed $1bn 5.95% 2023s, $600m 5.2% 2019s and Rb12bn ($397m) 9% 2018s via Barclays, Citi, ING and Royal Bank of Scotland on Wednesday, in a note hailed as a "breakthrough" for Eurorouble debt.

The telco, rated Ba3 by Moody’s and BB by Standard & Poor’s, is the first sub-investment grade issuer to price a Eurorouble note. "The leads did a good job with it," said one syndicate official away from the deal.

Several other Russian corporates are looking to issue in ...

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