By Rebecca Melvin
New York, Feb. 12 – Alfa Bond Issuance plc, a subsidiary of Russia’s OJSC Alfa Bank, priced $500 million perpetual eurobonds with an initial yield of 6.95%, according to market sources.
The Regulation S notes priced 0.3% lower than the originally announced price range, according to a company news release.
The coupon rate is set for the first 5.25 years until the first call.
The lead managers were Alfa Bank and UBS Ltd.
The deal was more than 2.6 times oversubscribed, with more than 75 institutional investors and large funds from Europe, Great Britain, Switzerland and Asia, and Russian investors.
Alfa Bank is a commercial lender based in Moscow.
| Issuer: | Alfa Bond Issuance plc
|
| Guarantor: | OJSC Alfa Bank
|
| Issue: | Notes
|
| Amount: | $500 million
|
| Maturity: | Perpetual
|
| Bookrunners: | Alfa Bank and UBS Ltd.
|
| Coupon: | 6.95% until first call
|
| Calls: | Non-callable for 5.25 years
|
| Pricing date: | Jan. 25
|
| Distribution: | Regulation S
|
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