By Paul A. Harris
St. Louis, Mo., April 17 - In an emerging markets deal, Russian telecom services provider VimpelCom priced $250 million of Rule 144A notes due April 26, 2005 (B3/B) Wednesday at par to yield 10.45%.
Prospect News learned Tuesday from a syndicate source that VimpelCom price talk went out at 10.675% then tightened to 10.45%-10.60%, until official price talk of 10.45% was ultimately heard.
"The deal was well oversubscribed so we were able to tighten it in," a syndicate official commented. "A week ago when the roadshow started we would have told you it would have priced at 11½%."
JP Morgan and UBS Warburg were joint lead managers on the deal. Two Russian financial institutions, Troika Dialogue and Alfa Bank, were co-managers.
The notes are non-callable.
Issuer: VimpelCom
| Amount: | $250 million
|
| Maturity: | April 26, 2005
|
| Managers: | JP Morgan, UBS Warburg (joint leads)
|
| Co-managers: | Troika Dialogue, Alfa Bank
|
| Coupon: | 10.45%
|
| Price: | Par
|
| Yield: | 10.45%
|
| Spread: | 642 basis points
|
| Call features: | Non-callable
|
| Settlement date: | April 26, 2002
|
| Ratings: | Moody's: B3
|
| Standard & Poor's: B
|
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