By Christine Van Dusen
Atlanta, June 15 - Russia's RZD Capital Ltd. sold a £300 million add-on to its 7.487% notes due March 25, 2031 (Baa1) at 101.75 to yield 7.317%, a market source said.
The notes matched priced talk, which was set in the 101.75 area.
Barclays Capital, Goldman Sachs and VTB Bank were the bookrunners for the Regulation S-only notes, which include a change-of-control put at par if the Russian Federation ceases to own 66.67%.
The original issue of £350 million notes priced on March 18 at par to yield Gilts plus 325 basis points after being talked in the low-300 bps area.
The borrower is OAO Russian Railways Co., a railway company based in Moscow.
| Issuer: | RZD Capital Ltd.
|
| Amount: | £300 million
|
| Maturity: | March 25, 2031
|
| Description: | Notes
|
| Bookrunners: | Barclays Capital, Goldman Sachs, VTB Bank
|
| Coupon: | 7.487%
|
| Price: | 101.75
|
| Yield: | 7.317%
|
| Change-of-control put: | At par if Russian Federation ceases to own 66.67%
|
| Trade date: | June 15
|
| Settlement date: | June 20
|
| Rating: | Moody's: Baa1
|
| Distribution: | Regulation S only
|
| Price talk: | 101.75 area
|
| Total issue size: | £650 million
|
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