Chicago, Oct. 21 – Lukoil Capital DAC sold $2.3 billion of notes (Baa2//BBB+) in two tranches on Thursday, according to an offering document.
The notes are guaranteed by PJSC Lukoil.
The deal was evenly split into $1.15 billion tranches.
Lukoil sold the first part as notes with a 2.8% coupon due April 26, 2027. And, the second tranche was sold with a 10-year tenor and a 3.6% coupon.
Neither series priced with a discount.
The 2027 notes have a make-whole call with a Treasuries plus 50 basis points premium until the par call date on Jan. 26, 2027.
The 2031 notes can be redeemed before July 26, 2031 at par plus a make-whole premium of Treasuries plus 50 bps. Starting July 26, 2031, they can be called at par.
Citigroup and JPMorgan are joint lead managers and active bookrunners for the Rule 144A and Regulation S deal. Gazprombank is listed as joint lead manager and passive bookrunner.
Proceeds will be loaned to Lukoil, which intends to use the funds for general corporate purposes.
| Issuer: | Lukoil Capital DAC
|
| Guarantor: | PJSC Lukoil
|
| Issue: | Notes
|
| Amount: | $2.3 billion
|
| Bookrunners: | Citigroup, J.P. Morgan (active) and Gazprombank (passive)
|
| Trustee: | Citicorp Trustee Co. Ltd.
|
| Counsel to guarantor: | Akin Gump LLP, Akin Gump Strauss Hauer & Feld LLP (English, Russian, U.S.)
|
| Counsel to issuer: | Mason Hayes & Curran LLP (Irish)
|
| Counsel to bookrunners: | Clifford Chance CIS Ltd., Clifford Chance LLP, Clifford Chance Partnerschaft mbB
|
| Trade date: | Oct. 21
|
| Settlement date: | Oct. 26
|
| Ratings: | Moody’s: Baa2
|
| Fitch: BBB+
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| 2027 notes
|
| Amount: | $1.15 billion
|
| Maturity: | April 26, 2027
|
| Coupon: | 2.8%
|
| Price: | Par
|
| Yield: | 2.8%
|
| Call features: | Make-whole call at Treasuries plus 50 bps until Jan. 26, 2027; thereafter at par
|
| Cusip: | 549875AA0
|
|
|
| 2031 notes
|
| Amount: | $1.15 billion
|
| Maturity: | Oct. 26, 2031
|
| Coupon: | 3.6%
|
| Price: | Par
|
| Yield: | 3.6%
|
| Call features: | Make-whole call at Treasuries plus 50 bps until July 26, 2031; thereafter at par
|
| Cusip: | 549875AB8
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
