By Christine Van Dusen
Atlanta, Jan. 26 - Russia's VimpelCom Communications OJSC priced a two-tranche $1.5 billion issue of loan participation notes due 2016 and 2021, a market source said.
The deal included $500 million 6.493% notes due Feb. 2, 2016 that priced at par and $1 billion 7.748% notes due Feb. 2, 2021 that priced at par.
Both carried a spread of mid-swaps plus 425 basis points, which was in line with price whispers of mid-swaps plus the mid-400 bps area.
Proceeds will be used for general corporate purposes and to fund a merger with Wind Telecom.
VimpelCom is a Moscow-based telecommunications company.
| Issuer: | VimpelCom Communications OJSC
|
| Amount: | $1.5 billion
|
| Description: | Loan participation notes
|
| Bookrunners: | Barclays Capital, BNP Paribas, Citigroup, RBS
|
| Trade date: | Jan. 26
|
| Settlement date: | Feb. 2
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Whispered at mid-swaps plus mid-400 bps area
|
|
|
| Notes due 2016
|
| Amount: | $500 million
|
| Maturity: | Feb. 2, 2016
|
| Coupon: | 6.493%
|
| Price: | Par
|
| Yield: | 6.493%
|
| Spread: | Mid-swaps plus 425 bps
|
|
|
| Notes due 2021
|
| Amount: | $1 billion
|
| Maturity: | Feb. 2, 2021
|
| Coupon: | 7.748%
|
| Price: | Par
|
| Yield: | 7.748%
|
| Spread: | Mid-swaps plus 425 bps
|
© 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.
