By Reshmi Basu and Paul A. Harris
New York, Sept. 23 - Promsvyazbank priced an upsized offering of $200 million of five-year loan participation notes (B1/B/B) at par to yield 8½%, according to market sources.
The issue was increased from $150 million.
The notes were issued through the company's Promsvyaz Finance plc unit.
Citigroup ran the Regulation S transaction for the Moscow-based full-service bank.
| Issuer: | Promsvyaz Finance plc
|
| Amount: | $200 million (upsized from $150 million)
|
| Issue: | Loan participation notes
|
| Maturity: | Oct. 4, 2010
|
| Coupon: | 8½%
|
| Issue price: | Par
|
| Yield: | 8½%
|
| Spread: | 447 basis points more than Treasuries
|
| Pricing date: | Sept. 23
|
| Settlement date: | Oct. 4
|
| Bookrunner: | Citigroup
|
| Ratings: | Moody's: B1
|
| Standard & Poor's: B
|
| Fitch: B
|
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