By Reshmi Basu
New York, July 14 - MDM Bank OAO sold $200 million of lower tier II notes (Ba3/B- expected) at par to yield 9¾%, according to a market source.
The deal, which was structured as a five-year bullet, priced at the tight end of price guidance. Guidance was set at 9¾% to 10%.
Goldman Sachs was the bookrunner for the Regulation S transaction.
The issuer is a Moscow-based Russian financial institution.
| Issuer: | MDM Bank OAO
|
| Amount: | $200 million
|
| Issue: | Lower tier II notes
|
| Maturity: | July 21, 2011
|
| Coupon: | 9¾%
|
| Issue price: | Par
|
| Yield: | 9¾%
|
| Pricing date: | July 14
|
| Settlement date: | July 21
|
| Bookrunner: | Goldman Sachs
|
| Expected ratings: | Moody's: Ba3
|
| Standard & Poor's: B-
|
| Price guidance: | 9¾% to 10%
|
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