Published on 10/12/2016 in the Prospect News Emerging Markets Daily.
New Issue: Russia’s Promsvyazbank prices $250 million 5¼% notes due 2019 at par
By Christine Van Dusen
Atlanta, Oct. 12 – Promsvyazbank OJSC priced $250 million three-year notes (expected ratings: Ba3/BB-) at par to yield 5¼%, or Treasuries plus 421.2 basis points, on Wednesday, a market source said.
HSBC, ING, JPMorgan, Renaissance Capital and Promsvyazbank were the bookrunners for the Regulation S deal.
Promsvyazbank is a Moscow-based lender.
| Issuer: | Promsvyazbank OJSC
|
| Amount: | $250 million
|
| Maturity: | Oct. 19, 2019
|
| Description: | Notes
|
| Bookrunners: | HSBC, ING, JPMorgan, Renaissance Capital, Promsvyazbank
|
| Coupon: | 5¼%
|
| Price: | Par
|
| Yield: | 5¼%
|
| Spread: | Treasuries plus 421.2 bps
|
| Trade date: | Oct. 12
|
| Settlement date: | Oct. 19
|
| Expected ratings: | Moody's; Ba3
|
| S&P: BB-
|
| Distribution: | Regulation S
|
| Price talk: | 5¼% to 5 3/8%
|
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