By Reshmi Basu
New York, June 20 - OJSC AK Transneft sold a two-part offering of loan participation notes (A2/BBB+), which included €700 million in five-year notes and $500 million in five-year notes, according to an informed source.
Both tranches priced at par to yield mid-swaps plus 60 basis points, which came on top of price talk.
Citigroup, Goldman Sachs and UBS Investment Bank were lead managers for the Rule 144A and Regulation S deal.
The Moscow-based pipeline operator transports about 93% of the oil produced in Russia.
On Feb. 23, the issuer sold a $1.3 billion offering of seven-year loan participation notes at par to yield mid-swaps plus 55 bps.
| Issuer: | TransCapitalInvest Ltd.
|
| Borrower: | OJSC AK Transneft
|
| Issue: | Two-part offering of loan participation notes
|
| Lead managers: | Citigroup, Goldman Sachs, UBS Investment Bank
|
| Distribution: | Rule 144A/Regulation S
|
| Settlement date: | June 27
|
| Expected ratings: | Moody's: A2
|
| Standard & Poor's: BBB+
|
|
|
| Euro-tranche
|
| Amount: | €700 million
|
| Issue: | Loan participation notes
|
| Maturity: | June 27, 2012
|
| Coupon: | 5.381%
|
| Issue price: | Par
|
| Spread: | Mid-swaps plus 60 bps
|
| Price talk: | Mid-swaps plus 60 bps
|
|
|
| Dollar-tranche
|
| Amount: | $500 million
|
| Issue: | Loan participation notes
|
| Maturity: | June 27, 2012
|
| Coupon: | 6.103%
|
| Issue price: | Par
|
| Spread: | Mid-swaps plus 60 bps
|
| Price talk: | Mid-swaps plus 60 bps
|
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