By Reshmi Basu
New York, Feb. 14 - ATF Capital BV sold a $450 million offering of seven-year senior notes (Ba1/B+/BB-) at 99.369 to yield 9 3/8%, according to a market source.
The deal priced at the tight end of guidance, which was set for a yield of 9 3/8% to 9½%.
Citigroup and ING were the lead managers for the Rule 144A and Regulation S deal.
JSC ATF Bank, based in Almaty, Kazakhstan, will guarantee the issue. ATF Bank is one of the five top financial institutions in the former Soviet republic.
| Issuer: | ATF Capital BV
|
| Guarantor: | ATF Bank
|
| Amount: | $450 million
|
| Issue: | Senior guaranteed notes
|
| Maturity: | Feb. 21, 2014
|
| Coupon: | 9¼%
|
| Issue price: | 99.369
|
| Yield: | 9 3/8%
|
| Spread: | Treasuries plus 464 basis points
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 21
|
| Lead managers: | Citigroup, ING
|
| Distribution: | Rule 144A and Regulation S
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: B+
|
| Fitch: BB-
|
| Price guidance: | 9 3/8% to 9½%
|
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