GTLK Europe sets yield on dollar seven-year benchmark notes at 5½%

By Paul A. Harris

Portland, Ore., Feb. 13 – GTLK Europe Capital DAC set the yield on a benchmark offering of dollar-denominated seven-year Regulation S senior notes at 5½%, according to a bond trader in Europe.

J.P. Morgan Securities plc, Renaissance Capital, Citigroup, Gazprombank, Sovcombank and VTB Capital are the stabilization managers, according to a pre-stabilization release issued on Tuesday.

The stabilization period is expected to begin on Tuesday.

Moody's Investors Service assigned a provisional Ba3 rating to the notes. Fitch Ratings assigned the notes an expected BB rating.

GTLK Europe Capital DAC is a wholly owned direct subsidiary of GTLK Europe DAC and is ultimately owned by Russia's PJSC State Transport Leasing Co. (Ba2 positive).

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