Russian Railways releases fair guidance for taps but tightening expected

08 Oct 2012

Russian Railways has released price guidance for taps of the rouble and dollar bonds that the company placed earlier this year. Lead managers JP Morgan, Royal Bank of Scotland and VTB Capital also arranged the original notes — $1bn 5.7% March 2022s and Rb25bn 8.3% April 2019s.

Guidance for the dollar tranche was released at a yield of 4.15% area and for the rouble tranche at 8% area. The dollar note is expected to price later on Tuesday, and the rouble note before the end of this week, according to a syndicate official away from ...

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