Russia

Polyus Gold, Russia’s largest gold producer, printed its $500m six year bond on Wednesday from a book of $2bn and flat to where lead managers said they saw fair value.

United Company Rusal has added an extra bank to its bond mandate ahead of pricing for the Reg S/144A dollar deal, which is expected on Thursday.

Polyus Gold, Russia’s largest gold producer, has released price guidance for a six year benchmark bond and books for the deal are already over $1.1bn.

Options volumes were up 11% in exchanges around the world last year, while futures were down 6.6%, according to new data unveiled by the Futures Industry Association.

New emerging markets bond issues are starting to trickle after a slow start to the week. Political events in the US, as well as Turkey’s military campaign in Syria have proved an unhelpful distraction, though overall the markets remain in good shape.

Polyus Gold, Russia’s largest gold producer, priced a $250m convertible bond on Friday, just a day after issuing a separate mandate for a new Eurobond.

United Company Rusal has returned to its core currency after issuing two Panda bonds via private placement last year. The Russian aluminium producer will meet investors for a dollar bond of intermediate maturity next week.

Russian fertiliser producer PhosAgro placed the first Russian corporate bond of the year on Wednesday, securing a coupon of below 4%.

Alfa-Bank will be the first Russian privately owned bank to test demand for additional tier one (AT1) securities since the write-down of capital bonds from Otkritie and Promsvyazbank.

Polyus Gold has announced plans to issue a Eurobond, three days after terminating an agreement to sell a stake to Chinese investment company Fosun International.

PhosAgro, a Russian phosphate-based fertiliser company, has released price guidance for a $500m 5.25 year bond that a banker away from the deal and an investor are calling “fair”.

PhosAgro, a Russian phosphate-based fertiliser company, is embarking on a series of investor meetings to market a five to seven year dollar bond.