By Rebecca Melvin
New York, Feb. 13 – CBOM Finance plc, a subsidiary of Credit Bank of Moscow, priced €500 million of 5.15% five-year loan participation notes (expected ratings: BB-/BB-) at a spread of 502.5 basis points over mid-swaps on Tuesday, according to a term sheet.
Pricing of the Rule 144A and Regulation S notes came tighter than the 5¼% guidance and initial price talk of 5¼% to 5½%.
The order book was more than €800 million.
Global coordinators and bookrunners were Citigroup Global Markets Ltd. and Societe Generale, with Gazprombank, ING Bank NV and Sova Capital Ltd. also acting as bookrunners.
The bank is privately owned and operates in Moscow and the Moscow region.
| Issuer: | CBOM Finance plc
|
| Guarantor: | Credit Bank of Moscow
|
| Description: | Loan participation notes
|
| Amount: | €500 million
|
| Maturity: | Feb. 20, 2024
|
| Bookrunners: | Citigroup, Societe Generale, Gazprombank, ING and Sova Capital
|
| Coupon: | 5.15%
|
| Price: | Par
|
| Yield: | 5.15%
|
| Spread: | Mid-swaps plus 502.5 bps
|
| Trade date: | Feb. 12
|
| Settlement date: | Feb. 20
|
| Ratings: | S&P: BB-
|
| Fitch: BB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 5¼% guidance and 5¼% to 5½% initial talk
|
© 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.
