By Reshmi Basu
New York, July 28 - Izmir, Turkey-based conglomerate Yasar Holdings AS said it sold €150 million of five-year loan participation notes (B+) with a coupon of 9½%.
The deal was oversubscribed, according to a market source.
Dresdner Bank AG was the bookrunner for the Regulation S transaction.
Yasar has interests in food and beverages, paint, tissue papers and tourism.
Meanwhile Yasar's special purpose vehicle, Troy Capital SA, issued the notes while its subsidiaries will guarantee the notes.
| Issuer: | Troy Capital SA
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| Borrower: | Yasar Holdings AS
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| Amount: | €150 million
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| Issue: | Fixed-rate loan participation notes
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| Maturity: | 2011
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| Coupon: | 9½%
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| Pricing date: | July 28
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| Bookrunner: | Dresdner Bank AG
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| Rating: | S&P: B+
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| Distribution: | Regulation S
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