New Issue: Russia's Novolipetsk Steel prices $500 million seven-year notes at par to yield 4.95%

By Christine Van Dusen

Atlanta, Sept. 19 - Russia's Novolipetsk Steel (NLMK) priced $500 million 4.95% notes due Sept. 26, 2019 (Baa3/BBB-/BBB-) at par to yield 4.95%, or Treasuries plus 377.9 basis points, a market source said.

The notes were talked at a yield in the 5 3/8% area.

Deutsche Bank, JPMorgan and Societe Generale were the bookrunners for the deal.

NLMK is a steel company based in Lipetsk, Russia.

Issuer:	Novolipetsk Steel	(NLMK)
Amount:	$500 million
Maturity:	Sept. 26, 2019
Description:	Notes
Bookrunners:	Deutsche Bank, JPMorgan, Societe Generale
Coupon:	4.95%
Price:	Par
Yield:	4.95%
Spread:	Treasuries plus 377.9 bps
Trade date:	July 19
Settlement date:	Sept. 26
Ratings:	Moody's: Baa3
	Standard & Poor's: BBB-
	Fitch: BBB-
Distribution:	Rule 144A and Regulation S
Price talk:	5 3/8% area

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