By Christine Van Dusen
Atlanta, June 16 - Russia's KOKS Group sold $350 million 7¾% notes due June 23, 2016 (B3) at par, a market source said.
The deal came in below price whispers, which were first set at the 8½% area and then tightened to 8%.
Bank of America Merrill Lynch, Credit Suisse, Troika Dialog and VTB Capital were the bookrunners for the Rule 144A and Regulation S notes.
Proceeds will be used for the repayment of secured debt.
The notes were initially expected to be issued in rubles.
KOKS Group is a coke and pig iron producer and miner based in Moscow.
| Issuer: | KOKS Group
|
| Amount: | $350 million
|
| Maturity: | June 23, 2016
|
| Description: | Senior notes
|
| Bookrunners: | Bank of America Merrill Lynch, Credit Suisse, Troika Dialog, VTB Capital
|
| Coupon: | 7¾%
|
| Price: | Par
|
| Yield: | 7¾%
|
| Trade date: | June 16
|
| Settlement date: | June 23
|
| Rating: | Moody's: B3
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 8% area, tightened from 8½% area
|
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