Morning Commentary: New Novolipetsk bond edges slightly higher after issue

By Rebecca Melvin

New York, Sept. 15 – The newly priced bond of Russia’s OJSC Novolipetsk Steel (NLMK) edged up slightly early Friday upon release for secondary market trading after $500 million of the seven-year bonds priced at par to yield 4%, a market source said.

The new 4% paper was seen at 100.15 bid, 100.25 offered last.

The deal came tight to talk in the low 4% area and was priced by bookrunners ING Bank NV, J.P. Morgan Securities plc, Societe General, and Unicredit Bank AG.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.