By Christine Van Dusen
Atlanta, Feb. 27 – JSC Russian Railways – via RZD Capital plc – priced $500 million 4 3/8% seven-year loan-participation notes (expected ratings: Ba1//BBB-) at par on Monday, according to a company filing.
JPMorgan and VTB Capital were the bookrunners for the Regulation S deal.
The proceeds will be used to finance a loan to Russian Railways that will be used for general corporate purposes, including funding the company’s investment program and repaying debt.
Russian Railways is a state-owned railway company based in Moscow.
| Issuer: | RZD Capital plc
|
| Amount: | $500 million
|
| Maturity: | March 1, 2024
|
| Description: | Loan participation notes
|
| Bookrunners: | JPMorgan, VTB Capital
|
| Coupon: | 4 3/8%
|
| Price: | Par
|
| Yield: | 4 3/8%
|
| Change-of-control put: | At 100%
|
| Trade date: | Feb. 27
|
| Settlement date: | March 1
|
| Expected ratings: | Moody’s: Ba1
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
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