Russia’s Metalloinvest plans dollar benchmark of seven-year notes

By Rebecca Melvin

Concord, N.H., Oct. 5 – Metalloinvest Finance DAC was marketing a dollar-denominated benchmark offering of seven-year bonds on Tuesday, according to a market source.

J.P. Morgan, SberCIB and Societe Generale are global coordinators and bookrunners of the Rule 144A and Regulation S deal, and Deutsche Bank, Gazprombank, IMI-Intesa Sanpaolo, UBS Investment Bank, UniCredit and VTB Capital are joint lead managers and bookrunners.

The banks arranged a global investor call on Monday at 9 a.m. ET, which was to be followed by a series of fixed-income investor calls.

In conjunction with the offering of new notes, Metalloinvest Finance DAC announced an invitation for holders to tender for cash any and all of the company’s 4.85% notes due 2024 and a consent bid that provides for mandatory early redemption of the notes. The early participation deadline is Oct. 12, and the offer expires on Oct. 27.

Metalloinvest is a subsidiary of JSC Holding Co. Metalloinvest, a Moscow-based mining and metallurgy company.

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