Norilsk Nickel raises $1bn through eurobond issue

Mining company Norilsk Nickel has raised $1bn in the first significant Russian eurobond issue  in almost 11 months. Unnnamed sources have indicated that the seven-year note is being offered yielding 6.625%, down from an initial guidance rate of about 7%.  
The eurobond is the first sale by Russian company since Gazprom raised $700m in a one-year note last November. While international penalties for the country’s involvement in the military conflict in eastern Ukraine have frozen many companies from selling debt abroad, neither Norilsk Nickel nor Gazprom, which is also  meeting investors this week about a possible offering, have been sanctioned.

Source: Bloomberg