By Paul A. Harris
St. Louis, July 26 - International Industrial Bank, via IIB Luxembourg SA, sold a $100 million offering of three-year notes at par to yield 9½%, according to a market source.
The deal priced on top of price guidance.
Barclays Capital and Vneshtorgbank were lead managers for the Regulation S transaction.
The issuer is a privately owned commercial banking group.
Issuer: | IIB Luxembourg SA
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Borrower: | International Industrial Bank
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Amount: | $100 million
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Issue: | Senior secured loan participation notes
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Maturity: | July 31, 2009
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Coupon: | 9½%
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Price: | Par
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Yield: | 9½%
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Put option: | Putable on Jan. 31, 2008
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Pricing date: | July 26
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Settlement date: | July 31
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Bookrunner: | Barclays Capital
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Co-manager: | Vneshtorgbank
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Price guidance: | 9½% area
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