By Cristal Cody
Chicago, Oct. 21 – PJSC MMC Norilsk Nickel sold $500 million of 2.8% five-year notes (Baa2/BBB-) on Wednesday, lower than initial price talk in the 3 1/8% to 3¼% area and lower than tightened guidance in the 3% area, according to a syndicate source.
The notes feature a make-whole call and then a three-month par call.
Citigroup, Societe Generale and UBS Investment Bank are joint global coordinators and joint bookrunners together with Goldman Sachs International, Mizuho Securities, SberCIB, SMBC Nikko and VTB Capital as joint bookrunners of the Rule 144A and Regulation S deal.
The proceeds are earmarked for general corporate purposes, including capital investments and refinancing.
MMC Finance DAC is the issuer of the notes, which are expected to be listed on the Euronext Dublin exchange.
MMC Norilsk Nickel is a Moscow-based mining and metallurgical company.
| Issuer: | MMC Finance DAC
|
| Issue: | Notes
|
| Amount: | $500 million
|
| Maturity: | Oct. 27, 2026
|
| Bookrunners: | Citigroup, Societe Generale, UBS Investment Bank, Goldman Sachs International, Mizuho Securities, SberCIB, SMBC Nikko and VTB Capital
|
| Coupon: | 2.8%
|
| Call features: | Make-whole call and three-month par call
|
| Trade date: | Oct. 20
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Initial talk 3 1/8% to 3¼% area; guided to 3% area
|
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