27 Apr 2010 15:41

EuroChem decides against placing 1st series bonds for 10 bln rubles - sources

MOSCOW. April 27 (Interfax) - Russian fertilizer maker EuroChem has decided against placing a first series of bonds totaling 10 billion rubles, several sources on the bond market told Interfax.

The company was not satisfied with the interest rate investors were offering, one of the sources said.

It was reported earlier that the coupon rate guidance was 8.5%-9%. The bid book for the bonds was closed in the second half of the day on Monday.

Interfax was unable to obtain comment from EuroChem and Raiffeisenbank, the placement organizer.