New Issue: Bank of Moscow sells $500 million seven-year notes at mid-swaps plus 175 bps

By Reshmi Basu

New York, May 5 - JSCB Bank of Moscow, issuing via special purpose vehicle Kuznetski Capital SA, sold $500 million seven-year senior loan participation notes (Baa1//BBB-) at par to yield mid-swaps plus 175 basis points, according to a market source.

The deal priced at the wide end of price talk, which was set at mid-swaps plus 170 to 175 basis points on Wednesday.

Barclays Capital and JP Morgan were joint bookrunners for the Rule 144A and Regulation S offering.

Issuer:	Kuznetski Capital SA
Guarantor:	JSCB Bank of Moscow
Amount:	$500 million
Issue:	Senior loan participation notes
Maturity:	May 13, 2013
Coupon:	7.335%
Issue price:	Par
Yield:	7.335%
Spread:	175 basis points more than mid-swaps
Pricing date:	May 5
Settlement date:	May 13
Bookrunners:	Barclays Capital, JP Morgan
Ratings:	Moody's: Baa1
	Fitch: BBB-
Price talk:	170 to 175 basis points over mid-swaps

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