TMK, a Russian steel pipe producer in the oil and gas industry, is looking to issue a benchmark US$-denominated bond
We expect the new TRUBRU issue to price at the lower end of the range of Russian single 'B'-rated bonds
We expect tight pricing for the new issue, with YTM in the area of 4%
You can read this report by subscribing to a Starter or Pro plan today.
Already have an account? Log in
This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").
The Analyst certifies that the views and forecasts expressed in this report accurately reflect their personal views about the subject, securities, or issuers specified herein. In addition, the Analyst certifies that no part of their compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in this report.