By Christine Van Dusen
Atlanta, April 20 – Georgian Oil and Gas Corp. priced $250 million 6¾% notes due in 2021 at 98.96 to yield 7% on Tuesday, a market source said.
The notes were talked at a yield in the low-to-mid-7% area.
JPMorgan and Barclays were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to purchase previous notes and to build a combined-cycle power plant and underground gas storage facility.
Georgian Oil and Gas is a Tbilisi, Georgia-based company focused on the exploration, production, transportation and sales of oil and gas resources.
| Issuer: | Georgian Oil and Gas Corp.
|
| Amount: | $250 million
|
| Maturity: | 2021
|
| Description: | Notes
|
| Bookrunners: | JPMorgan, Barclays
|
| Coupon: | 6¾%
|
| Price: | 98.96
|
| Yield: | 7%
|
| Trade date: | April 19
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Low-to-mid-7% area
|
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