Hungary’s Nitrogenmuvek selects banks, sets roadshow for €200 million seven-year notes

By Rebecca Melvin

New York, April 20 – Nitrogenmuvek Zrt. has mandated banks and scheduled fixed-income investor meetings for a planned €200 million offering of seven-year notes, which are non-callable for three years, according to a syndicate source on Friday.

BNP Paribas, JPMorgan and Raiffeisen Bank International AG are joint lead managers and joint bookrunners arranging the meetings in Europe and the United States, starting on Monday.

A Rule 144A and Regulation S deal (expected rating: B/B+) will follow subject to market conditions.

Proceeds are earmarked to refinance its outstanding dollar-denominated eurobonds due 2020 and for general corporate purposes.

Roadshow meetings wrap up on April 30 after meetings in London, Frankfurt, Zurich, Geneva, Vienna, Budapest and New York.

Nitrogenmuvek is a Veszprem, Hungary-based producer of ammonia and fertilizers.

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