By Reshmi Basu
New York, May 23 - Vseukrainsky Aksionerny Bank (VA Bank) sold a $125 million offering of three-year loan participation notes (B2/B-) at par to yield 10 1/8%, according to a market source.
The deal came at the low end of price guidance for a yield in the 10¼% area.
Credit Suisse and Deutsche Bank were lead managers for the Regulation S deal.
The issuer is a Ukrainian financial institution and a member of the Kiev, Ukraine-based universal financial group VAB Group, which through its subsidiaries, offers financial services such as insurance, leasing assistance and loan assistance services.
| Issuer: | Credit Suisse
|
| Borrower: | Vseukrainsky Aksionerny Bank (VA Bank)
|
| Amount: | $125 million
|
| Maturity: | June 7, 2010
|
| Coupon: | 10 1/8%
|
| Issue price: | Par
|
| Yield: | 10 1/8%
|
| Spread: | Treasuries plus 537 bps
|
| Lead managers: | Credit Suisse, Deutsche Bank
|
| Pricing date: | May 23
|
| Settlement date: | June 6
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B-
|
| Distribution: | Regulation S
|
| Price guidance: | 10¼% area
|
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