New Issue: Russia's Eurasia Drilling sells $600 million seven-year notes at par to yield 4 7/8%

By Christine Van Dusen

Atlanta, April 12 - Russia's Eurasia Drilling Co. Ltd. priced $600 million seven-year notes (/BB+/BB) at par to yield 4 7/8%, a market source said.

The notes were talked at a yield in the low- to mid-5% area.

BofA Merrill Lynch, Goldman Sachs and Sberbank were the bookrunners for the Rule 144A and Regulation S deal.

The issuer is a Moscow-based onshore and offshore drilling services provider.

Issuer:	Eurasia Drilling Co. Ltd.
Amount:	$600 million
Maturity:	April 17, 2020
Description:	Notes
Bookrunners:	BofA Merrill Lynch, Goldman Sachs, Sberbank
Coupon:	4 7/8%
Price:	Par
Yield:	4 7/8%
Trade date:	April 11
Settlement date:	April 17
Ratings:	Standard & Poor's: BB+
	Fitch: BB
Distribution:	Rule 144A and Regulation S
Price talk:	Low- to mid-5% area

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