Sibur raises $500 million in five-year eurobonds

Sibur, Russia's largest petrochemical company, claims it has raised $500m through an offering of 5-year eurobonds on the Irish Stock Exchange. According to the company, the coupon rate is 2.95 percent, which is a record low for Russian corporate issuers and it will be paid twice a year. The proceeds will be used to optimize the company's loan portfolio and for general corporate purposes. The order book topped $1 billion, and the eurobonds were sold to 94 investors, Sibur added.