New Issue: Bank of Moscow sells $200 million 10-year notes to yield 7½%

By Reshmi Basu

New York, Nov. 18 - Bank of Moscow, via Kuznetski Capital SA, sold a $200 million offering of 10-year lower tier II notes (Baa1//BBB-) at par to yield 7½%, according to a market source.

Barclays Capital and Merrill Lynch ran the Regulation S transaction.

The notes will be callable on Nov. 25, 2010. If not called, the coupon will step up by 150 basis points.

Bank of Moscow has more than 40 full-service regional branches throughout Russia.

Issuer:	Bank of Moscow
Amount:	$200 million
Issue:	Lower tier II notes
Maturity:	Nov. 25, 2015
Coupon:	7½%
Issue price:	Par
Yield:	7½%
Call option:	Callable on Nov. 25, 2010; if not called, coupon will step up by 150 basis points
Pricing date:	Nov. 18
Settlement date:	Nov. 25
Bookrunners:	Barclays Capital, Merrill Lynch
Ratings:	Moody's: Baa1
	Fitch: BBB-
Price guidance:	7½% area

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