Russian nickel company prepares to sell bonds| MENAFN.COM

Wednesday, 05 October 2022 11:01 GMT

Russian nickel company prepares to sell bonds


(MENAFN) According to RIA Novosti on Monday, which quoted an anonymous source in the financial sector, the Russian mining giant Nornickel intends to submit bids for two tranches of bonds totaling 25 billion rubles (USD415 million).

Based on the reports, the corporation is going to issue 4.5 percent bonds in both dollars and rubles that would mature in 2025–2027. The currency commitments' value has not been made public.

Russian Agricultural Bank, BK Region, Gazprombank, and Moscow Credit Bank would allegedly serve as book-runners for the offering, which might occur in September or October.

Vladimir Potanin, Nornickel's largest stakeholder, revealed plans to boost employee and other individual stock interests to a combined 25 percent of the corporation, up from the existing 10 percent, earlier this week.

The modification, according to Potanin, could be a part of a 10-year scheme starting the current year and including digital financial assets and lock-up periods.

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