By Colin Hanner
Chicago, April 27 – KOKS Finance DAC priced an upsized $500 million of 7½% five-year notes at par on Thursday, a market source said.
Initial price talk for the deal was in the 7¾% area, later tightening to 7½%.
Citigroup, Gazprombank, Renaissance Capital, Sberbank CIB, VTB Capital were bookrunners for the deal.
The new notes are part of a refinancing that includes a cash tender offer for the company’s 10¾% notes due 2018, a market source said.
KOKS Finance is a subsidiary of KOKS Group, a coke and pig iron producer and miner based in Moscow.
| Issuer: | KOKS Finance DAC
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| Description: | Notes
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| Amount: | $500 million
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| Maturity: | 2022
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| Bookrunners: | Citigroup, Gazprombank, Renaissance Capital, Sberbank CIB and VTB Capital
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| Coupon: | 7½%
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| Price: | 100
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| Yield: | 7½%
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| Trade date: | April 27
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| Marketing: | Roadshow
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| Price talk: | 7½%, tightened from a 7¾% to 8% area
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