MOSCOW Feb 11 Russia's Novolipetsk Steel
is pointing investors towards a yield of between 4.625
to 4.75 percent for its benchmark five-year dollar-denominated
Eurobond, a source in the financial sector told Reuters on
IFR, a Thomson Reuters news and financial news service,
provided the same details of the deal on Monday.
Novolipetsk joins a number of Russian companies taking
advantage of favourable terms in the bond markets as well as
positive investor sentiment towards emerging markets.
Last yea, Russian borrowers raised a total of around $53
billion via Eurobond issues.
Novolipetsk hired a series of banks last week to arrange
meetings with investors to test appetites towards a possible
In September NLMK issued $500 million in Eurobonds at 4.95
percent. The issue trades now at around
Separately, Renaissance Credit is seeking to add to its
outstanding subordinated Eurobond, maturing in 2018, guiding
investors towards a yield of approximately 12.7 percent, the