Russian oil and gas pipe producer TMK will place $500 million of 7-year dollar-denominated Eurobonds at a yield of 4.3%, a financial source reported.
Demand for the Eurobonds exceeds $1.6 billion, the source said earlier.
The initial yield guidance stood at 4.75% and was lowered to 4.3-4.35% during bookbuilding.
On January 31 – February 4, the company held meetings with investors devoted to a possible placement of Eurobonds in Moscow, London, Frankfurt, Zurich and Geneva.
J.P. Morgan, Renaissance Capital, Alfa-Bank, BofA Securities, Gazprombank, Sova Capital, UBS and VTB Capital act as organizers. (Prime/Ukrainian metal)