By Paul A. Harris
St. Louis, Feb. 25 - JSC VTB Capital priced a $1.25 billion issue of 6.465% five-year loan participation notes (Baa1/BBB/BBB) to yield 385 basis points over mid-swaps on Thursday, according to market sources.
The spread came on top of price talk that had been tightened during marketing from the 400 bps area.
Deutsche Bank AG, JPMorgan and VTB Capital were the bookrunners.
The notes were sold under Rule 144A and Regulation S.
The full-service banking company is based in Moscow.
| Issuer: | JSC VTB Capital
|
| Amount: | $1.25 billion
|
| Maturity: | March 4, 2015
|
| Securities: | Loan participation notes
|
| Bookrunners: | Deutsche Bank AG, JPMorgan, VTB Capital
|
| Coupon: | 6.465%
|
| Price: | Par
|
| Yield: | 6.465%
|
| Spread: | 385 bps over mid-swaps
|
| Trade date: | Feb. 25
|
| Settlement date: | March 4
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
| Distribution: | Rule 144A/Regulation S
|
| Price talk: | Mid-swaps plus 385 bps (tightened from 400 bps area)
|
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