Sibur completed offering of 5-year Eurobonds worth $500 mln

TASS Russian News Agency | Jun 30, 2020 at 8:30 PM

MOSCOW, June 30. /TASS/. The Russian petrochemical giant Sibur floated 5-year Eurobonds worth $500 mln with the interest rate of 2.95% per annum, First Vice President of Gazprombank Denis Shulakov told TASS.

"Sibur has selected an optimal slot for offering in the unstable markets environment and achieved the target coupon range below 3%. This is the lowest rate across all Eurobond issues of the company and it is also the minimal rate for all Russian issuers that have ever floated dollar-denominated Eurobonds," Shulakov said.

The oversubscription was more than twofold and the demand in the bid book was above $1 bln, including bids from organizers. The share of foreign investors in the overall demand reached 35%.