By Reshmi Basu
New York, March 20 - Russia's Petrocommerce Bank reopened its bonds due 2009 to add $25 million, according to a market source.
Credit Suisse and UBS Investment Bank were the bookrunners for the Regulation S deal.
On March 9, the issuer sold a $200 million offering of three-year bonds (Ba3/B) at par to yield 8%.
This brings the total size of the deal to $225 million.
The issuer is a private Russian bank formerly owned by Lukoil, Russia's largest oil company.
In 2004 Lukoil sold its stake in Petrocommerce Bank to IFD Kapital, which is majority owned by Vagit Alekperov, one of Forbes magazine's richest Russian billionaires and the president of Lukoil, and Leonid Fedun, a vice president of Lukoil.
| Issuer: | Petrocommerce Bank
|
| Issue: | Reopening of bonds due 2009
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| Amount: | $25 million
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| Total amount: | $225 million
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| Maturity: | March 23, 2009
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| Coupon: | 8%
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| Issue price: | Par
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| Yield: | 8%
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| Pricing date: | March 20
|
| Lead managers: | Credit Suisse, UBS Investment Bank
|
| Ratings: | Moody's: Ba3
|
| Standard & Poor's: B
|
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