Magnitogorsk Iron & Steel Works, or MMK, sold 5 billion rubles ($170 million) of three-year bonds paying a 9.45 percent coupon, the lowest rate for a Russian company in more than a year, Renaissance Capital said Thursday.
The offering was four-times oversubscribed, said Dmitry Sredin, head of debt finance at Renaissance, which helped manage the sale.
(Bloomberg)
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