Ukraine's Azovstal Iron & Steel talks up to $200 million five-year notes at 9%-9¼%

By Paul A. Harris

St. Louis, Feb. 13 - Ukraine's Azovstal Iron & Steel Works set price guidance on its $150 million to $200 million offering of five-year fixed-rate notes at 9% to 9¼%, according to a market source.

The roadshow will conclude following Tuesday presentations in Frankfurt and London, with pricing expected soon after.

ING has the books for the Regulation S offering. MNB Capital Markets is the joint lead manager.

The notes will become callable in two years at 102.0.

Moody's Investors Service assigns its B3 rating to the notes. The Standard & Poor's rating is B-.

The prospective issuer is a steel producer based in Mariupol, in Ukraine's Donetsk region.

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