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Norilsk Nickel launches $1 billion loan participation notes at 4.1%
By Colin Hanner
Chicago, April 4 – OJSC MMC Norilsk Nickel launched $1 billion loan participation notes at 4.1% on Tuesday, a market source said.
The launch comes inside final yield talk in the 4¼% area after initial talk around 4½%.
One market source said the securities had been discussed in a 4% to 4 1/8% range.
The notes are rated Ba1 by Moody’s Investors Service and BBB- by S&P Global Ratings.
Societe Generale CIB will act as a stabilizing manager, a market source said. The syndicate also includes Barclays and JPMorgan.
The securities will be issued via MMC Finance DAC.
MMC Norilsk Nickel is a Moscow-based mining and metallurgical company.
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