By Reshmi Basu
New York, March 3 - Inter Rao UES sold $150 million in two-year credit-linked notes (non-rated) at par to yield 7¾%, according to a market source.
The issue priced at the tight end of revised price guidance. Guidance had been revised to 7¾% to 8% from 8% to 8¼%.
Citigroup was the bookrunner for the transaction.
The issuer is a subsidiary of Russian state-controlled utility RAO UES (B+).
Proceeds will be used to fund asset acquisitions.
| Issuer: | Inter Rao UES
|
| Amount: | $150 million
|
| Issue: | Credit-linked notes
|
| Maturity: | March 12, 2008
|
| Coupon: | 7¾%
|
| Issue price: | Par
|
| Yield: | 7¾%
|
| Pricing date: | March 3
|
| Settlement date: | March 12
|
| Bookrunner: | Citigroup
|
| Revised price guidance: | 7¾% to 8%
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
