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Norilsk Nickel talks $500 million five-year notes to yield 3 1/8%-3¼%
By Rebecca Melvin
Concord, N.H., Oct. 20 – PJSC MMC Norilsk Nickel planned to price $500 million of five-year loan participation notes (expected ratings: Baa2/BBB-), which were being talked on Wednesday to yield 3 1/8% to 3¼%, according to a syndicate source.
The notes feature a make-whole call and then a three-month par call.
Citigroup, Societe Generale and UBS Investment Bank are joint global coordinators and joint bookrunners together with Goldman Sachs International, Mizuho Securities, SberCIB, SMBC Nikko and VTB Capital as joint bookrunners of the Rule 144A and Regulation S deal.
The proceeds are earmarked for general corporate purposes, including capital investments and refinancing.
MMC Finance DAC was the issuer of the notes, which are expected to be listed on the Euronext Dublin exchange.
MMC Norilsk Nickel is a Moscow-based mining and metallurgical company.
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