Published on 4/12/2013 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.
New Issue: Russia's Eurasia Drilling sells $600 million seven-year notes at par to yield 4 7/8%
By Christine Van Dusen
Atlanta, April 12 - Russia's Eurasia Drilling Co. Ltd. priced $600 million seven-year notes (/BB+/BB) at par to yield 4 7/8%, a market source said.
The notes were talked at a yield in the low- to mid-5% area.
BofA Merrill Lynch, Goldman Sachs and Sberbank were the bookrunners for the Rule 144A and Regulation S deal.
The issuer is a Moscow-based onshore and offshore drilling services provider.
Issuer: | Eurasia Drilling Co. Ltd.
|
Amount: | $600 million
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Maturity: | April 17, 2020
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Description: | Notes
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Bookrunners: | BofA Merrill Lynch, Goldman Sachs, Sberbank
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Coupon: | 4 7/8%
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Price: | Par
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Yield: | 4 7/8%
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Trade date: | April 11
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Settlement date: | April 17
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Ratings: | Standard & Poor's: BB+
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| Fitch: BB
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Distribution: | Rule 144A and Regulation S
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Price talk: | Low- to mid-5% area
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