By Paul A. Harris
St. Louis, July 25 - Edel Capital, an issuing entity of the Republic of Tatarstan, priced a $250 million issue of 10-year loan participation notes (Ba1/B/BB) at par to yield 7.7% on Monday, according to a market source.
The yield came inside of the 7¾% to 8% price talk.
Proceeds from the sale will be lent to Sinek Capital, which is owned by the Republic of Tatarstan.
Dresdner Kleinwort Wasserstein ran the books for the Regulation S-only issue.
Tatarstan is one of the regions of the Russian Federation.
| Issuer: | Edel Capital (Sinek Capital, Republic of Tatarstan)
|
| Amount: | $250 million
|
| Maturity: | Aug. 3, 2015
|
| Security description: | Loan participation notes
|
| Bookrunner: | Dresdner Kleinwort Wasserstein
|
| Coupon: | 7.7%
|
| Price: | Par
|
| Yield: | 7.7%
|
| Put: | Putable after Aug. 3, 2012
|
| Trade date: | July 25
|
| Settlement date: | Aug. 3
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: B
|
| Fitch: BB
|
| Price talk: | 7¾%-8%
|
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