By Reshmi Basu
New York, Dec. 16 - NKNK Finance plc, a financing subsidiary of Tatarstan rubber and petrochemical producer AOA Nizhnekamskneftekhim, sold $200 million of 10-year amortizing notes (B1//B+) at par to yield 8½%, according to a market source.
The deal came in line with price guidance that was in the 8½% area.
MDM Bank is the bookrunner for the Regulation S transaction.
The notes have an average life of 7.5 years and are putable at par in five years.
Proceeds will be used for general corporate purposes.
| Issuer: | NKNK Finance plc
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| Amount: | $200 million
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| Issue: | Amortizing loan participation notes
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| Maturity: | Dec. 22, 2015
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| Coupon: | 8½%
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| Issue price: | Par
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| Yield: | 8½%
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| Pricing date: | Dec. 16
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| Settlement date: | Dec. 22
|
| Bookrunner: | MDM Bank
|
| Ratings: | Moody's: B1
|
| Fitch: B+
|
| Price guidance: | 8½% area
|
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