Russia's Promsvyazbank sets guidance for $150 million two-year notes at 10%-10¼%

By Reshmi Basu

New York, Oct. 12 - Promsvyaz Finance SA has set price guidance for its $150 million offering of two-year loan participation notes to yield 10% to 10¼% (expected B1/B-/B), according to a market source.

The notes will be used to finance a loan to Moscow-based Promsvyazbank.

Marketing started Tuesday in Singapore. The roadshow will continue to Zurich and Geneva on Wednesday and wrap up in London on Thursday.

ING and UBS Investment Bank are joint bookrunners for the Regulation S bond offering.

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