Published on 2/21/2007 in the Prospect News Emerging Markets Daily.
New Issue: Russia's Locko-Bank sells $100 million three-year eurobonds at 10%
By Paul A. Harris
St. Louis, Feb. 21 - SPV Locko Finance plc, a special purpose vehicle of Russia's Locko-Bank, has priced a $100 million issue of three-year eurobonds (B2/B-) at par to yield 10%, according to an informed source.
UBS Investment Bank led the loan participation notes transaction, which was priced on Tuesday.
Locko-Bank is a Moscow-based retail banking company.
| Issuer: | Locko-Bank (via SPV Locko Finance plc)
|
| Amount: | $100 million
|
| Maturity: | March 1, 2010
|
| Security description: | Eurobonds in the form of loan participation notes
|
| Bookrunner: | UBS Investment Bank
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Trade date: | Feb. 20
|
| Settlement date: | March 1
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B-
|
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