New Issue: Russia's MDM Bank prices upsized $250 million two-year notes to yield 7¾%

By Paul A. Harris

St. Louis, Dec. 1 - Russia's MDM Bank priced an upsized $250 million two-year eurobond issue (Ba2/B+/BB-) at par on Wednesday to yield 7¾%, according to a market source.

The issue priced at a 312 basis points spread to Treasuries, at the wide end of the Treasuries plus 300 basis points area price talk.

Goldman Sachs & Co. ran the books for the Regulation S issue.

Issuer:	MDM Bank
Amount:	$250 million (increased from $200 million)
Maturity:	Dec 7, 2007
Security description:	Eurobonds
Bookrunner:	Goldman Sachs & Co.
Coupon:	7¾%
Price:	Par
Yield:	7¾%
Spread:	312 basis points
Call protection:	Non-callable for life
Trade date:	Nov. 30
Settlement date:	Dec. 7
Ratings:	Moody's: Ba2
	Standard & Poor's: B+
	Fitch: BB-
Price talk:	300 basis points area

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