Published on 6/9/2016 in the Prospect News Emerging Markets Daily.
New Issue: Russia’s Sovcomflot prices $750 million 5 3/8% notes due 2023 at par
By Christine Van Dusen
Atlanta, June 9 – PAO Sovcomflot priced $750 million 5 3/8% notes due 2023 (BB) at par to yield 5 3/8% on Thursday, a syndicate source said.
The notes were talked in the 5¾% area.
Citigroup and JPMorgan were the joint global coordinators and joint lead managers and bookrunners. ING, Sberbank CIB and VTB Capital were also joint lead managers and bookrunners for the Rule 144A and Regulation S deal.
Sovcomflot is a maritime shipping company based in St. Petersburg, Russia.
| Issuer: | PAO Sovcomflot
|
| Amount: | $750 million
|
| Maturity: | 2023
|
| Description: | Notes
|
| Bookrunners: | Citigroup, JPMorgan (joint global coordinators), ING, Sberbank CIB, VTB Capital
|
| Coupon: | 5 3/8%
|
| Price: | Par
|
| Yield: | 5 3/8%
|
| Trade date: | June 9
|
| Rating: | S&P: BB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 5¾% area
|
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