Russia: TMK to place $500 million Eurobonds at 4.3%

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,…

Russia: TMK pipes sales down in 2019

In 2019 TMK decreased pipe sales by 5% YoY, mostly due to the drop in sales of the American division. At the same time Russian division increased sales by 5%, including OCTG seamless pipes by 4% and large-diameter pipes by 56%. Overall OTCG sales dropped by 11%, with Russian division selling 3% more pipes. (Ukrainian…

Russia: TMK to supply continuous cast billets to Kazakhstan

Pipe Metal Company and Prommashkomplekt LLC, manufacturer of products for railroad, have signed an agreement on the delivery of continuous cast pipe billets. The document was signed by TMK deputy CEO Sergey Marchenko and Prommashkomplekt commercial director Dmitriy Karakulov. According to the contract, TMK will annually supply Prommashkomplekt with up to 65 thousand tons of…