By Christine Van Dusen
Atlanta, Feb. 15 - Russia's Promsvyazbank priced a $200 million add-on to its subordinated tier 2 notes due in 2019 (Ba2/BB-/) to yield 9%, a market source said.
HSBC, JPMorgan and Promsvyazbank were the bookrunners for the Regulation S deal.
"The initial target was more than four times oversubscribed," said Artem Konstandian, president of Promsvyazbank, in a statement.
The original issue totaled $400 million and priced at a 10.2% yield.
Other details of the new deal were not immediately available on Friday.
Promsvyazbank is a lender based in Moscow.
| Issuer: | Promsvyazbank
|
| Amount: | $200 million
|
| Maturity: | 2019
|
| Description: | Subordinated tier 2 notes
|
| Bookrunners: | HSBC, JPMorgan, Promsvyazbank
|
| Coupon: | 10.2%
|
| Yield: | 9%
|
| Trade date: | Feb. 15
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's; BB-
|
| Distribution: | Regulation S
|
| Price talk: | 9% to 9¼%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
