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Russia's Evraz sets guidance for dollar-denominated 10-year notes at mid-swaps plus low- to mid-300 bps
By Reshmi Basu
New York, Oct. 31 - Evraz Group SA has set initial price guidance for a dollar-denominated offering of 10-year fixed-rate notes (B2/B+/B) at mid-swaps plus low- to mid-300 basis points, according to a market source.
Marketing for the issue is scheduled to end on Wednesday.
Proceeds from the sale will be used for the repayment of existing debt and the funding of further investment.
ING and UBS Investment Bank are running the Rule 144A/Regulation S transaction.
The Moscow-based company is vertically integrated steel and mining business with operations primarily in Russia.
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