By Rebecca Melvin
New York, Jan. 25 – Polyus Finance plc, a subsidiary of PJSC Polyus, priced $500 million of 4.7% six-year notes (expected ratings: Ba1//BB-) on Wednesday at par, according to a news release.
Pricing came in the middle of price talk for a yield of 4¾% to 4 7/8%. The order book was for more than $1.5 billion.
The Rule 144A and Regulation S notes are being guaranteed by JSC Gold-Mining Co. Polyus, an indirect subsidiary of PJSC Polyus.
Proceeds are intended to be used primarily for debt refinancing and other general corporate purposes of the group.
J.P. Morgan Securities plc, Bank GPB International SA, Renaissance Securities (Cyprus) Ltd., SIB (Cyprus) Ltd. and VTB Capital plc acted as joint bookrunners of the deal.
London-based Polyus is a gold producer with mines in Russia and Kazakhstan.
| Issuer: | Polyus Finance plc
|
| Guarantor | JSC Gold-Mining Co. Polyus
|
| Amount: | $500 million
|
| Maturity: | Jan. 29, 2024
|
| Description: | Notes
|
| Bookrunners: | J.P. Morgan Securities plc, Bank GPB International SA, Renaissance Securities (Cyprus) Ltd., SIB (Cyprus) Ltd. and VTB Capital plc
|
| Coupon: | 4.7%
|
| Price: | Par
|
| Yield: | 4.7%
|
| Trade date: | Jan. 24
|
| Settlement date: | Jan. 29
|
| Ratings: | Moody’s: Ba1
|
| Fitch: BB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 4¾% to 4 7/8%
|
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