Published on 2/2/2012 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Russia's Vnesheconombank sells $750 million 5 3/8% senior notes due 2017 at par
By Christine Van Dusen
Atlanta, Feb. 2 - Russia's VEB Finance plc priced a $750 million issue of notes due Feb. 13, 2017 at par to yield 5 3/8%, or Treasuries plus 466.3 basis points, a market source said.
The notes were talked in the 5½% area.
BNP Paribas, JPMorgan, Morgan Stanley and RBS were the bookrunners for the Rule 144A and Regulation S deal.
The notes are guaranteed by Moscow-based lender Vnesheconombank.
Issuer: | VEB Finance plc
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Guarantor: | Vnesheconombank
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Amount: | $750 million
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Maturity: | Feb. 13, 2017
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Description: | Senior notes
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Bookrunners: | BNP Paribas, JPMorgan, Morgan Stanley, RBS
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Coupon: | 5 3/8%
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Price: | Par
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Yield: | 5 3/8%
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Spread: | Treasuries plus 466.3 bps
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Trade date: | Feb. 2
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Settlement date: | Feb. 13
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Distribution: | Rule 144A and Regulation S
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Price talk: | 5½% area
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