By Rebecca Melvin
New York, June 27 – EuroChem Finance DAC sold $500 million four-year senior notes for EuroChem Group AG on Tuesday that priced at par to yield 3.95%, according to a syndicate source.
The notes (/BB-/BB) were sold under Rule 144A and Regulation S via joint bookrunners Citigroup and JP Morgan.
Proceeds were earmarked for debt refinancing and working capital.
The fertilizer company is based in Moscow.
| Issuer: | EuroChem Finance DAC
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| Guarantor: | EuroChem Group AG
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| Issue: | Senior notes
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| Amount: | $500 million
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| Maturity: | July 5, 2021
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| Bookrunners: | Citigroup and JP Morgan
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| Coupon: | 3.95%
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| Price: | Par
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| Yield: | 3.95%
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| Pricing date: | June 27
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| Settlement: | July 5
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| Expected ratings: S&P: BB-
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| Fitch: BB
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| Distribution: | Rule 144A and Regulation S
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