By Reshmi Basu
New York, Oct. 27 - Intergas Central Asia, through its financing vehicle Intergas Finance BV, priced $250 million seven-year bonds Wednesday at 98.641 with a 6 7/8% coupon to yield 7 1/8%, according to market sources.
The deal, increased from $200 million, came at the tighter end of initial price guidance. Guidance had been set at 7 1/8% to 7¼%.
KazTransGas JSC and Intergas CJSC will guarantee the bonds.
ABN Amro and JP Morgan ran the Rule 144A/Regulation S deal.
Intergas, based in Astana, is a state-owned gas transmission utility of Kazakhstan and is state-owned through KazTransGas and the state hydrocarbon conglomerate KazMunaiGas.
| Issuer: | Intergas Finance BV
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| Guarantors: | KazTransGas JSC, Intergas Central Asia CJSC
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| Amount: | $250 million
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| Maturity: | Nov. 4, 2011
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| Coupon: | 6 7/8%
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| Issue price: | 98.641
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| Yield: | 7 1/8%
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| Spread: | 351.6 basis points over comparable U.S. Treasuries
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| Pricing date: | Oct. 27
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| Settlement date: | Nov. 4
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| Lead managers: | ABN Amro, JP Morgan
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| Ratings: | Moody's: Baa3
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| Standard & Poor's: BB
|
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