PJSC MMC Norilsk Nickel announces the closing of its $1 billion 6-year Eurobond offering with an annual coupon rate of 4.1%.
The proceeds from the issue will be used for general corporate purposes and capital investments.
The offering has attracted solid investors’ interest both domestically and internationally and the book was well oversubscribed. As a result, the offering has been successfully executed inside the company’s outstanding Eurobonds’ curve and allocated among the following regions: Russia (37%), Asia (20%), Switzerland (15%), other Europe (15%), US (8%), UK (4%) and other countries (1%).
Sergey Malyshev, the company’s Senior Vice-president and Chief Financial Officer commented: “This Eurobond placement is fully in line with the main objectives of our financial strategy. We have further extended our debt maturities profile and increased the share of USD denominated debt in our portfolio. We are additionally proud that the coupon has been fixed at the lowest level ever for the company’s issuances on the global debt capital markets”. (Nornickel/Ukrainian metal)