New Issue: Kyivstar GSM $100 million three-year notes yield 12¾%

By Paul A. Harris

St. Louis, Mo., Nov. 5 - Kyivstar GSM priced $100 million loan participation notes due Nov. 21, 2005 (B2/B-) at par to yield 12¾%, according to a market source.

Dresdner Kleinwort Wasserstein was the lead manager for the emerging markets offering, the source added.

The Regulation S/Rule 144A notes were sold in the U.S., the U.K., Ukraine, Germany and Luxembourg.

The issuer is a Ukrainian GSM mobile network operator headquartered in Kiev.

Issuer: Kyivstar GSM

Amount: $100 million

Maturity: Nov. 21, 2005

Type: Loan participation notes

Manager: Dresdner Kleinwort Wasserstein

Coupon: 12¾%

Price: Par

Yield: 12¾%

Distribution: Reg S/Rule 144A

Ratings: Moody's: B2

	S&P: B-

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