By Reshmi Basu
New York, Dec. 8 - OAO Novatek, via Dutch-registered special purpose vehicle CRR BV, sold $200 million 18-month credit-linked notes at par to yield 7¾%, according to a market source.
The notes will be guaranteed by subsidiaries of Novatek.
Investment Trust Bank and ING Bank NV were joint lead managers of the Regulation S deal.
Novatek, based in Moscow, is Russia's second-largest gas producer.
| Issuer: | CRR BV
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| Borrower: | OAO Novatek
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| Amount: | $200 million
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| Issue: | Credit-linked notes
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| Maturity: | June 16, 2006
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| Coupon: | 7¾%
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| Issue price: | Par
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| Yield: | 7¾%
|
| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 16
|
| Lead managers: | Investment Trust Bank, ING Bank NV
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