By Reshmi Basu
New York, Feb. 25 - Moscow Bank of Reconstruction & Development priced an upsized $150 million three-year notes (B1//B) at par to yield 8 5/8%, according to a market source.
The deal, increased from $100 million, priced tighter than the 8 7/8% price guidance.
Dresdner Kleinwort Wasserstein ran the Regulation S deal.
Moscow Bank of Reconstruction & Development is 95% owned by Sistema Group.
| Issuer: | Moscow Bank of Reconstruction & Development
|
| Amount: | $150 million
|
| Issue: | Loan participation notes
|
| Maturity: | March 3, 2008
|
| Coupon: | 8 5/8%
|
| Issue price: | Par
|
| Yield: | 8 5/8%
|
| Pricing date: | Feb. 25
|
| Settlement date: | March 3
|
| Bookrunner: | Dresdner Kleinwort Wasserstein
|
| Ratings: | Moody's: B1
|
| Fitch: B
|
| Price guidance: | 8 7/8%
|
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