MOSCOW, April 11 (Reuters) - 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 offering said.
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 issue.
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.