Sovcomflot Revises Pricing on USD 7-year Bond
Russian shipping company Sovcomflot has cut the yield on its seven-year U.S. dollar bond to 5.375 percent - 5.5 percent, according to a lead.
The notes will price within that range. The latest level compares with guidance of 5.625 percent area and initial price thoughts of 5.75 percent area.
The benchmark-sized notes are expected to price later today. Citigroup, ING, JP Morgan, Sberbank and VTB Capital are the lead managers.
Sovcomflot is rated Ba1/BB+/BB.
(Reporting by Sudip Roy)