Russia's Renaissance talks dollar-denominated three-year bonds at 8¾%-9%

By Reshmi Basu

New York, Oct. 19 - Renaissance Securities Trading Ltd. set price guidance for a dollar-denominated issue of three-year guaranteed notes (Ba3/B+/BB-) at 8¾% to 9%, according to a market source.

Proceeds from the sale will be used for working capital and for general capital purposes.

Citigroup and Credit Suisse are joint bookrunners for the Regulation S transaction. Renaissance Capital is co-manager.

Renaissance Capital Holdings Ltd. will guarantee the issue.

Moscow-based Renaissance Capital is an investment bank operating on the Russian financial market.

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