Russia's Edel Capital to issue dollar-denominated seven- to 10-year bonds

By Reshmi Basu

New York, July 15 - Edel Capital is currently marketing an offering of dollar-denominated seven- to 10-year bonds (Ba1/-/BB), according to a market source.

Proceeds from the sale will be lent to Sinek Capital, which is owned by the Republic of Tatarstan.

The Republic of Tatarstan (Ba1/B/BB) will guarantee the loan participation notes.

The roadshow kicked off in Hong Kong on Thursday and then stopped in Singapore on Friday. Marketing is then scheduled to move to Switzerland on Monday, stopping in Paris and Vienna on Tuesday, then Germany on Wednesday and wrapping up in London on Thursday.

Dresdner Kleinwort Wasserstein is running the Regulation S issue.

Sinek is a holding company for the Republic. The company's investment portfolio contains 19 companies, ranging from financial services and telecommunications to oil. Tatarstan is situated in the center of the Russian Federation.

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