IFLR1000

NLMK $700 million Eurobond offering

16/6/2016
Investment grade bond/note issue
Select tab

$ 700 million

Completed

16/6/2016

Overview:

  • Russian steelmaker NLMK has issued a $700 million 7-year Eurobond due 2023 with a rate of 4.5%. The notes were issued by Steel Funding, an Irish company formed for the purpose of issuing them.
  • Deutsche Bank, London Branch, ING Bank, London Branch, JPMorgan Securities and Société Générale acted as joint lead managers for the new issue.
  • Proceeds will be used to finance the purchase of existing notes due 2018 and 2019, as well as for general corporate purposes and the refinancing of its current debt.

Jon Moore - Journalist

Jurisdictions:

Ireland
United Kingdom
Russia

Deal type:

Investment grade bond/note issue

Practice area:

Capital markets : Debt

Governing law:

England and Wales

Industry sector:

Industrials and manufacturing

Firms:
Debevoise & Plimpton

Party: Novolipetsk Iron & Steel Corporation (NLMK) (issuer)

Lawyers: Alan Davies, James Scoville

Linklaters

Party: Deutsche Bank (Lead manager)

Party: ING Bank (Lead manager)

Party: JPMorgan Securities (Lead manager)

Party: Société Générale (Lead manager)

Lawyer: Cecil Quillen

Related deals