By Rebecca Melvin
New York, June 18 – Alrosa Finance SA priced $500 million 3.1% seven-year notes (expected ratings: Baa2/BBB-/BBB-) at par to yield mid-swaps plus 256 basis points, according to a syndicate source on Thursday.
Alrosa PJSC is guarantor of the Rule 144A and Regulation S notes, which were sold via joint bookrunners J.P. Morgan Securities plc (global coordinator), Gazprombank, Societe Generale and VTB Capital.
The proceeds of the notes are expected to be used for discharging obligations under current bilateral loan agreements and for general corporate purposes.
Alrosa is a diamond mining business based in Mirny, Russia.
| Issuer: | Alrosa Finance SA
|
| Guarantor: | Alrosa PJSC
|
| Issue: | Notes
|
| Amount: | $500 million
|
| Maturity: | June 25, 2027
|
| Bookrunners: | J.P. Morgan Securities plc (global coordinator), Gazprombank, Societe Generale and VTB Capital
|
| Coupon: | 3.1%
|
| Price: | Par
|
| Yield: | 3.1%
|
| Spread: | Mid-swaps plus 256 bps
|
| Trade date: | June 18
|
| Expected ratings: | Moody’s: Baa2
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
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