By Christine Van Dusen
Atlanta, May 20 - Russia's OAO VEB-leasing sold $400 million 5 1/8% notes due May 27, 2016 (/BBB/BBB) at par to yield Treasuries plus 330 basis points, a market source said.
The notes priced tighter than talk, which was set at 5¼% to 5½%.
Credit Suisse, Goldman Sachs and VEB Capital were the bookrunners for the Regulation S deal.
Proceeds will be used for general corporate purposes.
VEB-leasing is a subsidiary of Moscow-based lender VEB Bank.
| Issuer: | OAO VEB-leasing
|
| Amount: | $400 million
|
| Maturity: | May 27, 2016
|
| Description: | Notes
|
| Bookrunners: | Credit Suisse, Goldman Sachs, VEB Capital
|
| Coupon: | 5 1/8%
|
| Price: | Par
|
| Yield: | 5 1/8%
|
| Spread: | Treasuries plus 330 bps
|
| Trade date: | May 20
|
| Settlement date: | May 27
|
| Ratings: | Standard & Poor's: BBB
|
| Fitch: BBB
|
| Distribution: | Regulation S
|
| Price talk: | 5¼% to 5½%
|
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