By Paul A. Harris
St. Louis, July 25 - Edel Capital, an issuing entity of the Republic of Tatarstan, priced a $250 million issue of 10-year loan participation notes (Ba1/B/BB) at par to yield 7.7% on Monday, according to a market source.
The yield came inside of the 7¾% to 8% price talk.
Proceeds from the sale will be lent to Sinek Capital, which is owned by the Republic of Tatarstan.
Dresdner Kleinwort Wasserstein ran the books for the Regulation S-only issue.
Tatarstan is one of the regions of the Russian Federation.
Issuer: | Edel Capital (Sinek Capital, Republic of Tatarstan)
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Amount: | $250 million
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Maturity: | Aug. 3, 2015
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Security description: | Loan participation notes
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Bookrunner: | Dresdner Kleinwort Wasserstein
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Coupon: | 7.7%
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Price: | Par
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Yield: | 7.7%
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Put: | Putable after Aug. 3, 2012
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Trade date: | July 25
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Settlement date: | Aug. 3
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Ratings: | Moody's: Ba1
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| Standard & Poor's: B
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| Fitch: BB
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Price talk: | 7¾%-8%
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