Chile’s AES Gener prices 60-year notes at 7 1/8%; Credit Bank of Moscow sets guidance

By Paul A. Harris

Portland, Ore., March 18 – In Monday’s emerging markets session Chile’s AES Gener SA launched a $550 million offering of junior subordinated notes due 2079 (expected ratings: Ba2/BB/BB) to yield 7 1/8%.

And Credit Bank of Moscow talked its $300 million minimum offering of 5¼-year loan participation notes (expected rating: //BB-) to yield 7 1/8% to 7¼%.

Meanwhile, Evraz plc mandated JPMorgan, BofA, Gazprom Bank, ING and Sberbank to arrange meetings with fixed-income investors ahead of a benchmark dollar-denominated offering of global senior notes (Ba2), according to a market source.

Elsewhere on the new issue calendar, Republic of Ghana remains on the road with its dollar-denominated benchmark offering of bonds with an expected weighted average life of 7.12 years and/or longer dated tenor.

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