By Reshmi Basu
New York, May 3 - Intergas Finance BV priced a $600 million offering of 10-year bonds (Baa1/BB/BB+) at 99.091 to yield 6½%, according to a market source.
The deal came at the tight end of guidance, which was set for a yield of 6½% to 6 5/8%.
ABN Amro and BNP Paribas were joint bookrunners for the Rule 144A and Regulation S deal.
JSC Intergas Central Asia (ICA) will guarantee the issue.
Intergas Central Asia is a main subsidiary of Kaztransgaz and is an indirect 100% state-owned monopoly gas transmission company in Kazakhstan.
| Issuer: | Intergas Finance BV
|
| Guarantor: | JSC Intergas Central Asia (ICA)
|
| Amount: | $600 million
|
| Issue: | Bonds
|
| Maturity: | May 14, 2017
|
| Coupon: | 6 3/8%
|
| Issue price: | 99.091
|
| Yield: | 6½%
|
| Spread: | Treasuries plus 182 bps
|
| Joint bookrunners: | ABN Amro, BNP Paribas
|
| Pricing date: | May 3
|
| Settlement date: | May 14
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BB
|
| Fitch: BB+
|
| Distribution: | Rule 144A/Regulation S
|
| Price guidance: | 6½% to 6 5/8%
|
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