New York, March 1 - Promsvyazbank sold a $100 million add-on to its 10¼% notes due Oct. 27, 2006 (B1/B-/B), according to a market source.
The notes priced at 1021/2. The retap, increased from $50 million, priced at the richer end of talk. Initial price talk had been set in the area of 102 3/8.
Dresdner Kleinwort Wasserstein ran the Regulation S issue.
The issuer is a Russian bank based in Moscow.
In October, the issuer priced $100 million loan participation notes at par to yield 10¼%.
| Issuer: | Promsvyazbank
|
| Amount: | $100 million
|
| Total amount: | $200 million
|
| Issue: | Reopening of 10¼% notes due 2006
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| Maturity: | Oct. 27, 2006
|
| Coupon: | 10¼%
|
| Issue price: | 102½
|
| Pricing date: | March 1
|
| Settlement date: | March 9
|
| Bookrunner: | Dresdner Kleinwort Wasserstein
|
| Ratings: | Moody's: B1
|
| Standard & Poor's: B-
|
| Fitch: B
|
| Price talk: | 102 3/8 area
|
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