UPDATE 2: Source: Severstal sets coupon for 10 bln rbl bonds at 8.65%

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MOSCOW, Apr 4 (PRIME) -- Russian steelmaker Severstal has set the coupon for 10 billion ruble 10-year bonds at 8.65% annually, a banking source told PRIME on Thursday.

The initial guidance was set at 8.65–8.85% annually, corresponding to an 8.84–9.05% annual yield, it was later cut to 8.6–8.7% annually, corresponding to an 8.78–8.89% yield. The offering amount was firstly set at 10–15 billion rubles.

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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