Page 76 - RusRPTOct19

8.5.1 Fixed income - bond news
Russian petrochemical major Sibur placed $500mn worth of five-year Eurobonds on the Irish Stock Exchange, with initial coupon rate of 3.75% annually cut to 3.45% as the demand for the issue exceeded supply 2.5-fold at $1.3bn, the company announced on September 17. As reported by bne IntelliNews, during the relative calm in sanction rhetoric Russian corporate issuers have placed $6.9bn worth of Eurobonds in 14 deals in January-June 2019, almost as much as the $7.8bn in 18 issues placed in 2018 overall. The average issue size is up to $494mn versus $460mn in 2018. Sibur's issue was organised by Goldman Sachs, JP Morgan, Gazprombank and Sberbank CIB.
76 RUSSIA Country Report October 2019 ww.intellinews.com