Published on 7/26/2017 in the Prospect News Emerging Markets Daily.
New Issue: Russia’s Promsvyazbank prices €500 million 8¾% perpetual notes at par
By Rebecca Melvin
New York, July 26 – Promsvyazbank OJSC priced €500 million perpetual notes at par to yield 8¾%, or mid-swaps plus 680.7 basis points, on Wednesday, a market source said.
Guidance on the Regulation S notes had been for an 8¾% yield.
Promsvyazbank is a Moscow-based lender.
| Issuer: | Promsvyazbank OJSC
|
| Amount: | €500 million
|
| Maturity: | Perpetual
|
| Description: | Notes
|
| Coupon: | 8¾%
|
| Price: | Par
|
| Yield: | 8¾%
|
| Spread: | Mid-swaps plus 680.7 bps
|
| Trade date: | July 26
|
| Distribution: | Regulation S
|
| Price talk: | Guidance was 8¾%
|
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