New Issue: Moscow sells €407 million 10-year notes at mid-swaps plus 102 bps

By Reshmi Basu

New York, Oct. 13 - The City of Moscow (Baa2/BBB+/BBB+) sold a €407 million offering of 10-year loan participation notes at mid-swaps plus 102 basis points, according to a market source.

The deal priced inside of price guidance, which was set at 105 to 110 basis points over mid-swaps.

Citigroup, Deutsche Bank, Dresdner Kleinwort and JP Morgan were joint bookrunners for the Regulation S issue of senior notes.

Issuer:	City of Moscow
Amount:	€407 million
Issue:	Loan participation notes
Maturity:	2016
Spread:	Mid-swaps plus 102 basis points
Pricing date:	Oct. 13
Bookrunners:	Citigroup, Deutsche Bank, Dresdner Kleinwort, JP Morgan
Ratings:	Moody's: Baa2
	Standard & Poor's: BBB+
	Fitch: BBB+
Price guidance:	105 to 110 basis points over mid-swaps
Distribution:	Regulation S

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