March 9, 2016 / 3:10 PM / 2 years ago

Russia's TMK considering Eurobond

LONDON, March 9 (IFR) - Russian steel pipe manufacturer TMK is considering a dollar-denominated bond, according to a company official.

The company has not approached banks yet but yields are getting attractive, said Vladimir Shmatovich, TMK’s vice-president, strategy, at a media briefing.

TMK’s outstanding 2020 notes are trading at a yield of 7.49%, according to Tradeweb, below the 9% level the company says is the ideal interest rate on its debt portfolio. (Reporting by Michael Turner; editing by Sudip Roy and Robert Smith.)

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