Norilsk Nickel Completes Yuan Bond Issue with 7.6% Coupon Rate
Quick Look
- Norilsk Nickel has successfully completed its new issue of yuan-denominated exchange-traded bonds (BO-001R-17-CNY series), setting a final coupon rate of 7.6% per annum.
- The issue size reached 3 billion yuan ($443 million) with a 4-year maturity and monthly coupon payments.
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Why It Matters
Norilsk Nickel, a major metals producer, is issuing new exchange-traded bonds denominated in Chinese yuan. The company has completed the bookbuilding process for this new series.
MOSCOW, June 11. /TASS/. Norilsk Nickel completed the bid book for the new issue of BO-001R-17-CNY series exchange-traded bonds denominated in yuan.
As a result of bookbuilding, the final coupon rate was set at 7.6% per annum, said Denis Shulakov, a member of the Board of Directors of NAUFOR.
"The issue amounted to 3 billion yuan ($443 mln), and the bond maturity was 4 years. Monthly coupon payments are provided for the issue. The high interest on the issuer's bonds made it possible to reduce the coupon rate by 40 basis points compared to the upper limit of the original range, and increase the final volume from 1.5 billion yuan ($222 mln) to 3 billion yuan," Shulakov said.
