By Reshmi Basu
New York, Feb. 21 - ZAO Alfa Bank Ukraine reopened its 9¾% notes due December 2009 (Ba2/BB-) at an issue price of 102 to add $160 million, according to a market source.
The reopening was issued via Emerging Market Structured Products BV, a special purpose vehicle.
Alfa Bank Ukraine will borrow the proceeds from the sale.
UBS managed the deal, which was launched under the issuer's global repackaging program.
Alfa Bank Ukraine is Alfa Group's main operating unit in the Ukraine. Alfa Group is a privately owned financial industrial conglomerate in Russia.
In December 2006, the issuer sold $160 million of the notes. With the additional notes, the total size of the deal stands at $320 million.
Issuer: Emerging Market Structured Products BV
Borrower: ZAO Alfa Bank Ukraine
Issue: Retap of 2009 loan participation notes
Issue amount: $160 million
Total amount: $320 million
Maturity date Dec. 22, 2009
Coupon 9¾%
Issue price 102
Pricing date: Feb. 21
Lead manager: UBS
Ratings Moody's: Ba2
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