Published on 3/27/2019 in the Prospect News Emerging Markets Daily.
New Issue: EM-focused Evraz prices $700 million 5¼% five-year notes at par
By Rebecca Melvin
New York, March 27 – Evraz plc priced $700 million of five-year notes (Ba2) at par to yield 5¼%, according to a company news release.
The Rule 144A and Regulation S notes were sold via bookrunners JPMorgan, BofA Merrill Lynch, Gazprom Bank, ING and Sberbank.
The London-based steel and mining company, which operates mainly in Russia, plans to use the proceeds to refinance debt, including its senior notes due 2020.
| Issuer: | Evraz plc
|
| Issue: | Notes
|
| Amount: | $700 million
|
| Maturity: | April 2024
|
| Bookrunners: | JPMorgan, BofA Merrill Lynch, Gazprom Bank, ING and Sberbank
|
| Coupon: | 5¼%
|
| Price: | Par
|
| Yield: | 5¼%
|
| Announcement date: | March 27
|
| Settlement date: | April 2
|
| Rating: | Moody’s: Ba2
|
| Distribution: | Rule 144A and Regulation S
|
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