By Christine Van Dusen
Atlanta, Nov. 6 - Russian Foreign Economic Industrial Bank (Vneshprombank) priced $200 million three-year notes (B2/B+/) at par to yield 9%, a market source said.
The notes were talked in the 9% area.
Otkritie Bank and Raiffeisen Bank International were the bookrunners for the Regulation S deal.
The notes were issued by VPB Funding.
The notes include a change-of-control put in the event of a ratings downgrade.
| Issuer: | VPB Funding
|
| Amount: | $200 million
|
| Maturity: | Nov. 14, 2016
|
| Description: | Notes
|
| Bookrunners: | Otkritie Bank, Raiffeisen Bank International
|
| Coupon: | 9%
|
| Price: | Par
|
| Yield: | 9%
|
| Change-of-control put: | In the event of a ratings downgrade
|
| Trade date: | Nov. 8
|
| Settlement date: | Nov. 14
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B+
|
| Distribution: | Regulation S
|
| Price talk: | 9% area
|
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