Kernel has placed $300 million worth of five-year Eurobonds with an annual coupon rate of 6.5%. By contrast Kernel placed $500 million worth of five-year Eurobonds in Jan. 2017 with a coupon rate of 8.75%. On the eve of the mid-October roadshow, Fitch upgraded Kernel’s long term rating to BB-, two notches above the sovereign. “Demand for Eurobonds exceeded supply,” Kernel CEO Evgeny Osipov said of the roadshow organized by ING and Morgan. “We noted a high level of interest among investors from the UK, USA, and continental Europe.”
Kernel has placed $300 million worth of five-year Eurobonds with an annual coupon rate of 6.5%.
