Novatek Places $463M Bond
- Feb. 13 2013 00:00
- Last edited 20:42
Novatek, Russia's largest independent gas producer, raised 14 billion rubles ($463 million) in four-year eurobonds, a banking source said Tuesday.
The source added that the yield was set at 7.75 percent, the same as the initial guidance. Barclays, Gazprombank, Goldman Sachs and Sberbank CIB were arranging the deal.
Novatek joins a number of Russian companies taking advantage of favorable conditions in the bond markets as well as positive investor sentiment toward emerging markets.
Since the start of the year, Russian borrowers have raised about $11 billion via eurobond deals, which compares with $53 billion all last year.