MOSCOW, April 11 Russia's largest iron ore
miner, Metalloinvest, raised $1 billion in a
seven-year Eurobond issue that pays 5.625 percent in annual
interest, the lower end of a range, a banking source told
Reuters on Thursday.
The order book totalled $3.8 billion, with demand from
investment firms including PIMCO, BlackRock, Fidelity,
TCW, BlueBay and Pioneer, another source with knowledge of the
The yield guidance had been set at 5.875 percent, but was
later lowered to between 5.625 and 5.750 percent, according to
the banking source.
Credit Suisse, Deutsche Bank, Credit Agricole, Societe
Generale, VTB Capital and Sberbank organised the
Metalloinvest, controlled by Arsenal football club and
Facebook shareholder Alisher Usmanov, was one of several Russian
firms that planned to go public in 2008 but cancelled the plans
due to the financial crisis.
Its chief executive said earlier this year that the company,
which has major steel production assets in Russia, was worth
about $18 billion to $20 billion.
Metalloinvest declined to comment on the details of the deal
or what the proceeds would be used for.