New Issue: Russia’s EuroChem prices $500 million 3.8% notes due 2020 at par

By Christine Van Dusen

Atlanta, Oct. 5 – EuroChem Global Investments Ltd. priced $500 million notes due April 12, 2020 (expected ratings: BB-/BB) at par to yield 3.8% on Wednesday, following talk in the 4% area, a market source said.

Citigroup, Goldman Sachs, HSBC, ING, JPMorgan and Sberbank were the bookrunners for the Rule 144A and Regulation S deal.

The proceeds will be used to fund a tender offer for its outstanding $750 million 5 1/8% notes due in 2017. Other proceeds will be used to repay other debt and for general corporate purposes.

The fertilizer company is based in Moscow.

Issuer:	EuroChem Global Investments Ltd.
Amount:	$500 million
Maturity:	April 12, 2020
Description:	Notes
Bookrunners:	Citigroup, Goldman Sachs, HSBC, ING, JPMorgan, Sberbank
Coupon:	3.8%
Price:	Par
Yield:	3.8%
Trade date:	Oct. 5
Settlement date:	Oct. 12
Expected ratings:	S&P: BB-
	Fitch: BB-
Distribution:	Rule 144A and Regulation S
Price talk:	4% area

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.