Severstal narrows guidance for 10–15 bln rbl bond to 8.65–8.75%

MOSCOW, Apr 4 (PRIME) -- Russian steelmaker Severstal has narrowed the coupon guidance for its 10–15 billion ruble bonds to 8.65–8.75% annually, which corresponds to an 8.84–8.94% annual yield to a 5-year buyback offer, a banking source told PRIME on Thursday.

The initial guidance was set at 8.65–8.85% annually.

The issue carries semiannual bonds.

Bids are being collected on Thursday. Technical placement is preliminarily scheduled for April 9.

VTB Capital, Rosbank and Sberbank CIB are the organizers.

(65.1639 rubles – U.S. $1)

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