New Issue: Russia's Norilsk Nickel sells $500 million bonds due 2009 to yield 7 1/8%

By Reshmi Basu

New York, Sept. 17 - Norilsk Nickel Finance Lux SA priced $500 million of bonds due 2009 (corporate credit ratings Ba1/BB) Friday at par to yield 7 1/8%, according to a market source.

The oversubscribed deal came at the tighter end of price guidance. The deal was talked at 7 1/8% to 7 3/8%.

Citigroup and Morgan Stanley ran the Regulation S deal for Russia's largest metal producer.

Issuer:	Norilsk Nickel Finance Lux SA
Amount:	$500 million
Issue:	Eurobond
Maturity:	Sept. 30, 2009
Coupon:	7 1/8%
Issue price:	Par
Yield:	7 1/8%
Spread:	380.5 basis points plus five-year Treasuries
Pricing date:	Sept. 17
Settlement date:	Sept. 30
Bookrunners:	Citigroup, Morgan Stanley
Corporate credit ratings:	Moody's: Ba1
	Standard & Poor's: BB

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