Norilsk Nickel will reportedly issue ruble and dollar bonds as soon as October
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.
READ MORE: Russia’s richest man unveils employee share-ownership scheme
The world's top palladium and refined nickel producer, Nornickel currently employs 72,000 people.
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