GTLK Europe offering dollar-denominated seven-year notes

By Colin Hanner

Chicago, May 24 – GTLK Europe DAC is offering dollar-denominated seven-year senior unsecured bonds, a market source said.

J.P. Morgan Securities plc, Renaissance Capital, Alfa Capital Markets, Gazprombank, Societe Generale and VTB Capital are stabilizing managers for the Regulation S deal.

Fitch Ratings assigned an expected BB rating to the notes, which are guaranteed by PJSC State Transport Leasing Co., a Yamalo-Nenets, Russia, provider of credit to industries.

Proceeds from the notes will be used mainly for general corporate purposes by GTLK Europe, including refinancing current outstanding dollar-denominated borrowings, Fitch said.

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