Moldova’s Aragvi to sell $225 million five-year notes at 10% area

By Rebecca Melvin

New York, Feb. 21 – Aragvi Finance International DAC, a subsidiary of Aragvi Holding International Ltd., which operates as part of the Trans-Oil Group, plans to price $225 million of five-year notes (expected ratings: B3/B-) to yield in the 10% area, according to a market source.

Deal size for the Regulation S notes was initially talked at $250 million to $300 million.

Societe Generale CIB and Renaissance Capital are bookrunners for the offering, which is guaranteed by Aragvi Holding and a group of operating subsidiaries.

The company will mainly use the proceeds to refinance most of its secured debt.

Aragvi is an exporter of agricultural commodities from Moldova.

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