-UralSib to arrange MMK's RUB5bn bond sale.
BANKING AND CREDIT NEWS-February 10, 2012--UralSib to arrange MMK's RUB5bn bond sale(C)2012 M2 COMMUNICATIONS http://www.m2.com
10 February 2012 - Russian bank Uralsib has been hired to arrange the RUB5bn (USD167m/EUR126m) exchange bond sale of local ferrous metal manufacturer Magnitogorsk Iron and Steel Works (MMK), the company said on Friday.
According to the issue prospectus, the three-year debt offer will start on 16 February.
MMK, which is Russia's biggest ferrous metal producer, is guiding investors towards a first coupon of between 8.3% and 8.5%, to be paid twice a year, and a yield of 8.47% to 8.68%.
The issue also stipulates an 18-month buyback option.
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| Publication: | M2 Banking & Credit News (BCN) |
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| Date: | Feb 10, 2012 |
| Words: | 124 |
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