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Russia's Evraz mandates ING, UBS for dollar-denominated benchmark issue
By Reshmi Basu
New York, Oct. 19 - Evraz Group SA has mandated ING and UBS Investment Bank as joint lead managers for a dollar-denominated benchmark-sized bond issue (B2//BB-), according to a market source.
The issue will carry a tenor of seven to 10 years.
A roadshow is scheduled to run from Oct. 26 to Nov. 2.
The roadshow begins in Hong Kong, Geneva and Zurich on Oct. 26. The roadshow will then move to Singapore, Munich and Frankfurt on Oct. 27, followed by stops in Manila and Vienna on Oct. 28, Los Angeles and London on Oct. 31 and Boston, New York and again London on Nov. 1. The roadshow wraps up in New York on Nov. 2.
Proceeds from the sale will be used to repay existing debt and fund further investment.
The deal is structured as a Rule 144A/Regulation S transaction.
The Moscow-based company is vertically integrated steel and mining business with operations primarily in Russia.
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