Russia’s Tinkoff pays 14% to open single-B subordinated debt
Tinkoff Credit Systems on Thursday printed the highest yielding note of the year from the CEEMEA region — a $125m 14% 5.5 year deal — pulling off a subordinated debt trade that some doubted would be possible and even increasing the size from its original target of $100m. The book for the deal reached $160m.
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