By Christine Van Dusen
Atlanta, March 13 – Emerging markets-focused Evraz Group SA priced $750 million of 5 3/8% notes due March 20, 2023 (Ba3/BB-/BB-) at par to yield 5 3/8%, a syndicate source said.
The deal came at the tight end of talk which had been set in the 5 ˝% area.
JPMorgan, Citigroup, Deutsche Bank, Gazprombank and VTB Capital were the bookrunners for the Rule 144A and Regulation S deal.
Proceeds from the note sale will be used to finance a tender offer.
Evraz is a vertically integrated steel making and mining company based in London with operations mainly in Russia.
| Issuer: | Evraz Group SA
|
| Amount: | $750 million
|
| Maturity: | March 20, 2023
|
| Description: | Notes
|
| Bookrunners: | JPMorgan, Citigroup, Deutsche Bank, Gazprombank, VTB Capital
|
| Coupon: | 5 3/8%
|
| Price: | Par
|
| Yield: | 5 3/8%
|
| Trade date: | March 13
|
| Settlement date: | March 20
|
| Ratings: | Moody’s: Ba3
|
| S&P: BB-
|
| Fitch: BB-
|
| Distribution: | Rule 144A/Regulation S
|
| Price talk: | 5˝% area
|
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