By Rebecca Melvin
New York, March 15 – EuroChem Finance DAC has issued $700 million of 5˝% five-year senior notes (Ba3//BB), according to a market source.
The notes are guaranteed by EuroChem Group AG and MMC EuroChem JSC.
Citigroup, JPMorgan, Sberbank CIB, Societe Generale, UniCredit and VTB Capital were joint lead managers and joint bookrunners of the Rule 144A and Regulation S notes, which priced March 6.
The proceeds from the notes were used to fund the concurrent tender offers for its notes due April 2020 and July 2021, which amounted to $747.83 million, and for general corporate purposes.
The fertilizer company is based in Moscow.
| Issuer: | EuroChem Finance DAC
|
| Guarantors: | EuroChem Group AG and MMC EuroChem JSC
|
| Issue: | Senior notes
|
| Amount: | $700 million
|
| Maturity: | March 13, 2024
|
| Bookrunners: | Citigroup, JPMorgan, Sberbank CIB, Societe Generale, UniCredit and VTB Capital
|
| Coupon: | 5˝%
|
| Pricing date: | March 6
|
| Settlement date: | March 13
|
| Expected ratings: | Moody’s: Ba3
|
| Fitch: BB
|
| Distribution: | Rule 144A and Regulation S
|
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