By Reshmi Basu
New York, June 19 - Rolf Group, via Cyprus-based financing vehicle Colgrade Ltd., sold a $250 million offering of three-year bonds (Ba3) at par to yield 8¼%, according to a market source.
ABN Amro and Citigroup were the lead managers for the Regulation S deal.
Rolf Group is a Russian-based automotive dealer.
Cyprus-based Delance Ltd., which is the holding company of Rolf, will guarantee the issue.
| Issuer: | Colgrade Ltd.
|
| Borrower: | Rolf Group
|
| Guarantor: | Delance Ltd.
|
| Amount: | $250 million
|
| Maturity: | June 28, 2010
|
| Coupon: | 8¼%
|
| Issue price: | Par
|
| Yield: | 8¼%
|
| Spread: | 280 basis points more than mid-swaps
|
| Lead managers: | ABN Amro, Citigroup
|
| Pricing date: | June 19
|
| Settlement date: | June 28
|
| Rating: | Moody's: Ba3
|
| Distribution: | Regulation S
|
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