By Reshmi Basu
New York, Sept. 24 - The City of Moscow priced its €374 million seven-year bullet (Ba1/BB+/BB+) note offering Friday at par to yield 6.45%, according to a market source.
The deal came in tighter than revised price guidance. Price guidance had been tightened to 6½% to 6 5/8% from initial guidance of 6 5/8%.
The book order was more than €1 billion.
Citigroup, Dresdner Kleinwort Wasserstein and UBS Investment Bank ran the Regulation S deal.
| Issuer: | City of Moscow
|
| Amount: | €374 million
|
| Issue: | Fixed-rate loan participation notes
|
| Maturity: | Oct. 12, 2011
|
| Coupon: | 6.45%
|
| Issue price: | Par
|
| Yield: | 6.45%
|
| Pricing date: | Sept. 24
|
| Settlement date: | Oct. 12
|
| Joint bookrunners: | Citigroup, Dresdner Kleinwort Wasserstein, UBS Investment Bank
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB+
|
| Fitch: BB+
|
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