By Angela McDaniels
Tacoma, Wash., Dec. 1 - AK BARS Bank subsidiary AK BARS Luxembourg SA has priced $200 million of 10¼% loan participation notes due 2012, according to a company news release.
A portion of the notes (/BB) is being issued in an exchange offer for the company's $250 million of 8¼% loan participation notes due 2010. The remainder will be issued for cash.
Holders tendered $73,173,000 principal amount of 8¼% notes in the exchange offer.
The settlement date for the exchange offer will be Dec. 2, and the new notes issue will settle Dec. 9.
Credit Suisse is the dealer manager.
AK BARS is a bank based in Kazan, the Republic of Tatarstan, in Russia.
| Issuer: | AK BARS Luxembourg SA
|
| Issue: | Loan participation notes
|
| Amount: | $200 million
|
| Maturity: | 2012
|
| Dealer manager: | Credit Suisse
|
| Coupon: | 10¼%
|
| Price: | Par
|
| Rating: | Fitch: BB
|
| Settlement date: | Dec. 9
|
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