By Christine Van Dusen
Atlanta, July 30 – AK Bars Bank OJSC – through AK Bars Luxembourg SA – priced an upsized $350 million of three-year senior notes (expected ratings: B1/BB-) at par to yield 8% on Thursday, a market source said.
The issue was increased from an expected $300 million.
Pricing matched talk.
Credit Suisse and UBS were the bookrunners for the Regulation S deal.
AK Bars is a bank based in Kazan, the Republic of Tatarstan, in Russia.
| Issuer: | AK Bars Luxembourg SA
|
| Amount: | $350 million, increased from $300 million
|
| Maturity: | Aug. 6, 2018
|
| Description: | Senior notes
|
| Bookrunners: | Credit Suisse, UBS
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Trade date: | July 30
|
| Settlement date: | Aug. 6
|
| Expected ratings: | Moody's: B1
|
| Standard & Poor's: BB-
|
| Distribution: | Regulation S
|
| Price talk: | 8%
|
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