Russia's Promsvyazbank sets revised guidance for downsized $100 million two-year notes at 10¼%

By Reshmi Basu

New York, Oct. 18 - Promsvyaz Finance SA revised price guidance for its downsized $100 million offering of two-year loan participation notes to yield 10¼% (B1/B-/B), according to a market source.

The notes, decreased to $100 million from $150 million, will be used to finance a loan to Moscow-based Promsvyazbank.

Guidance has been revised to come at the wider end of initial talk of 10% to 10¼%.

Marketing wrapped up in London on Thursday. The issue is expected to price early Tuesday.

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

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