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20 Sep, 2022 14:17

Russian nickel giant plans bond issue — media

Norilsk Nickel will reportedly issue ruble and dollar bonds as soon as October
Russian nickel giant plans bond issue — media

Russian mining giant Nornickel is planning to offer bids for two tranches of bonds worth 25 billion rubles ($415 million), RIA Novosti reported on Monday, citing an unnamed source in the financial market.

The company will reportedly issue ruble and dollar bonds with a 4.5% maturing in 2025-2027. The value of the dollar obligations has not been disclosed.

Gazprombank, Moscow Credit Bank, BK Region and Russian Agricultural Bank will reportedly perform as book-runners of the issue which may take place in September-October.

Earlier this week, Nornickel’s largest shareholder Vladimir Potanin announced plans to increase the equity holdings of employees and other individuals to collectively comprise 25% of the company, up from 10% currently.

According to Potanin, the change would be included in a 10-year program that would begin in 2023, and would involve digital financial assets and lock-up periods.

The world's top palladium and refined nickel producer, Nornickel currently employs 72,000 people.

For more stories on economy & finance visit RT's business section

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