By Rebecca Melvin
New York, Sept. 29 – Sibur Securities DAC priced $500 million of six-year guaranteed notes (expected ratings: Ba1//BB+) at par to yield 4 1/8% on Friday, according to a market source.
Russia’s PJSC Sibur Holding is guarantor of the Rule 144A and Regulation S notes.
J.P. Morgan Securities plc (stabilization coordinator), ING, Gazprombank, Goldman Sachs International and Sberbank CIB were joint bookrunners of the deal.
Proceeds are earmarked to finance Sibur’s tender of $616 million outstanding of notes due in January 2018.
A listing on the Irish Stock Exchange is expected.
Sibur is a Moscow-based petrochemical company.
| Issuer: | Sibur Securities DAC
|
| Guarantor: | PJSC Sibur Holding
|
| Issue: | Guaranteed notes
|
| Amount: | $500 million
|
| Maturity: | Oct. 5, 2023
|
| Bookrunners: | J.P. Morgan Securities plc, ING, Gazprombank, Goldman Sachs International and Sberbank CIB
|
| Coupon: | 4 1/8%
|
| Price: | Par
|
| Yield: | 4 1/8%
|
| Trade date: | Sept. 29
|
| Settlement date: | Oct. 5
|
| Ratings: | Moody’s: Ba1
|
| Fitch: BB+
|
| Distribution: | Rule 144A and Regulation S
|
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