Moldova’s Aragvi postpones $225 million offering of five-year notes

By Rebecca Melvin

New York, Feb. 22 – Aragvi Finance International DAC, a subsidiary of Aragvi Holding International Ltd., which operates as part of the Trans-Oil Group, has postponed its offering of $225 million of five-year notes (expected ratings: B3/B-), according to a syndicate source on Thursday.

The issuer plans to engage with investors again in the future, the source said.

The Regulation S deal was announced on Wednesday and was initially talked at $250 million to $300 million in size before being trimmed to $225 million. Yield had been talked in the 10% area.

Societe Generale CIB and Renaissance Capital were bookrunners for the offering, for which proceeds were earmarked to refinance most of its secured debt.

Aragvi is an exporter of agricultural commodities from Moldova.

© 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.