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Russia's Edel Capital sets talk for dollar-denominated seven- to 10-year bonds at 7¾%-8%
By Reshmi Basu
New York, July 19 - Edel Capital set price talk for an offering of dollar-denominated seven- to 10-year bonds (Ba1/-/BB) at 7¾% to 8%, according to a market source.
The size of the deal has not been disclosed.
Proceeds from the sale will be lent to Sinek Capital, which is owned by the Republic of Tatarstan.
The Republic of Tatarstan (Ba1/B/BB) will guarantee the loan participation notes.
The issue is scheduled to wrap up its roadshow in London on Thursday.
Dresdner Kleinwort Wasserstein is running the Regulation S issue.
Sinek is a holding company for the Republic of Tatarstan. The company's investment portfolio contains 19 companies, ranging from financial services and telecommunications to oil. Tatarstan is situated in the center of the Russian Federation.
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