By Reshmi Basu
New York, March 23 - Alfa Bank sold a two-part offering of dollar-denominated and euro-denominated notes (Baa3/BBB-) under its existing Alfa Diversified Payment Rights (DPR) program, according to a market source.
The issuer sold a tranche of $200 million in five-year notes at par to yield three-month Libor plus 200 basis points, which came in line with initial guidance.
The second tranche was comprised of €145 million of five-year notes, which priced at par to yield three-month Euribor plus 190 bps. That also priced in line with initial talk.
Dresdner Kleinwort and Merrill Lynch were lead managers for the Rule 144A and Regulation S transaction.
Alfa Bank is a private commercial bank with headquarters in Moscow.
This was the third issuance under the issuer's DPR program.
| Issuer: | Alfa Diversified Payment Rights Finance Co. SA
|
| Issue: | Two-part offering of notes
|
| Pricing date: | March 23
|
| Settlement date: | March 29
|
| Lead managers: | Dresdner Kleinwort, Merrill Lynch
|
| Distribution: | Rule 144A and Regulation S
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
|
|
| Dollar-tranche
|
| Amount: | $200 million
|
| Issue: | Notes
|
| Maturity: | March 29, 2012
|
| Coupon: | Three-month Libor plus 200 bps
|
| Issue price: | Par
|
| Yield: | Three-month Libor plus 200 bps
|
| Price talk: | Libor plus 200 bps
|
|
|
| Euro-tranche
|
| Amount: | €145 million
|
| Issue: | Notes
|
| Maturity: | March 29, 2012
|
| Coupon: | Three-month Euribor plus 190 bps
|
| Issue price: | Par
|
| Yield: | Three-month Euribor plus 190 bps
|
| Price talk: | Euribor plus 190 bps
|
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