New Issue: MMK Finance $300 million five-year notes yield 8¼%

By Paul A. Harris

St. Louis, Oct. 9 - MMK Finance SA priced an offering of $300 million 8% notes due Oct. 21, 2008 (Ba3/B/BB-) at 98.92 to yield 8¼%, a market source told Prospect News on Thursday.

ABN Amro and UBS Investment Bank were bookrunners on the Regulation S deal.

The notes are guaranteed by OJSC Magnitogorsk Iron & Steel Works.

Issuer:	MMK Finance SA
Amount:	$300 million
Maturity:	Oct. 21, 2008
Bookrunners:	ABN Amro, UBS Investment Bank
Coupon:	8%
Price:	98.92
Yield:	8¼%
Ratings:	Moody's: Ba3
	Standard & Poor's: B
	Fitch: BB-

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