Published on 9/29/2006 in the Prospect News Emerging Markets Daily.
New Issue: Moscow Narodny sells $500 million of three-year floaters
By Reshmi Basu
New York, Sept. 29 - Moscow Narodny Bank priced $500 million of three-year floating-rate notes (Baa3//BBB-) at 99.862 with a coupon of three-month Libor plus 80 basis points, according to a market source.
UBS and ING ran the books for the issue, which was launched under the bank's euro medium-term note program.
The issuer is the only Russia-owned bank in the United Kingdom.
| Issuer: | Moscow Narodny Bank
|
| Amount: | $500 million
|
| Issue: | Floating-rate notes
|
| Maturity: | Oct. 6, 2009
|
| Coupon: | Three-month Libor plus 80 basis points
|
| Issue price: | 99.862
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 6
|
| Lead managers: | UBS, ING
|
| Ratings: | Moody's: Baa3
|
| Fitch: BBB-
|
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