New Issue: Russia's EuroChem sells $300 million five-year notes at 7 7/8%

By Reshmi Basu

New York, March 12 - EuroChem Mineral and Chemical Co. OJSC sold a $300 million offering of five-year bullet notes (/BB-/BB- expected) at par to yield 7 7/8%, according to a market source.

Citigroup, ING and UBS were joint bookrunners for the Regulation S offering of loan participation notes, which were issued via EuroChem Finance plc, an Irish special purpose vehicle.

EuroChem Mineral, based in Moscow, is a producer of fertilizers.

Issuer:	EuroChem Finance plc
Borrower:	EuroChem Mineral and Chemical Co. OJSC
Amount:	$300 million
Issue:	Loan participation notes
Maturity:	March 21, 2012
Coupon:	7 7/8%
Issue price:	Par
Yield:	7 7/8%
Spread:	Treasuries plus 337 basis points
Joint bookrunners:	Citigroup, ING, UBS
Pricing date:	March 12
Settlement date:	March 21
Distribution:	Regulation S
Expected ratings:	Standard & Poor's: BB-
	Fitch: BB-

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