By Christine Van Dusen
Atlanta, April 23 - Ukraine's Donbass Fuel & Energy (DTEK) priced a $150 million add-on to its existing 7 7/8% notes due April 4, 2018 (B3//B) at 98.989 to yield 8 1/8%, a market source said.
The notes were talked at a yield of 8 1/8%.
VTB Capital, Deutsche Bank, ING, JPMorgan, Sberbank and Unicredit were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used for general corporate purposes, including the financing of ongoing capital expenditure programs and for working capital and repaying of certain indebtedness, according to a statement from the company.
The original $600 million issue of 7 7/8% notes due 2018 priced at 98.989 to yield mid-swaps plus 713 bps.
DTEK is an energy holding company based in Donetsk, Ukraine and owned by SCM Holdings.
| Issuer: | DTEK Finance plc
|
| Amount: | $150 million
|
| Maturity: | April 4, 2018
|
| Description: | Senior notes
|
| Bookrunners: | VTB Capital, Deutsche Bank, ING, JPMorgan, Sberbank, Unicredit
|
| Coupon: | 7 7/8%
|
| Price: | 98.989
|
| Yield: | 8 1/8%
|
| Trade date: | April 23
|
| Ratings: | Moody's: B3
|
| Fitch: B
|
| Distribution: | Rule 144A/Regulation S
|
| Price talk: | 8 1/8%
|
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