By Reshmi Basu
New York, Sept. 23 - Alfa Bank priced an upsized $175 million offering of bonds due April 2006 (Ba2/B/B+) at 99.482 to yield 8 3/8%, according to a market source.
The deal, increased from $150 million, came in tighter than price talk of 8½%.
Merrill Lynch and UBS Investment Bank ran the Regulation S deal.
The issuer, based in Moscow, is Russia's fourth biggest lending institution by assets.
| Issuer: | Alfa Bank
|
| Amount: | $175 million (increased from $150 million)
|
| Issue: | Euro medium-term notes
|
| Maturity: | April 13, 2006
|
| Coupon: | 8%
|
| Price: | 99.482
|
| Yield: | 8 3/8%
|
| Spread: | 599 basis points
|
| Pricing date: | Sept. 23
|
| Settlement date: | Oct. 13
|
| Lead managers: | Merrill Lynch, UBS
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: B
|
| Fitch: B+
|
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