By Reshmi Basu and Paul A. Harris
New York, June 9 - VimpelCom priced a downsized $250 million five-year bond (B1/BB-) on Wednesday at par to yield 10%, according to market sources.
The issue, which was decreased from $300 million, came in line with price talk. The issue had been talked to yield 10%.
JP Morgan and UBS Investment Bank are the bookrunners for the Rule 144A/ Regulation S offering.
Proceeds will be used for general corporate purposes.
In late April, VimpelCom postponed its $300 million offering, citing unfavorable market conditions.
VimpelCom is Russia's second-largest cellular network operator.
| Issuer: | VimpelCom
|
| Amount: | $250 million, decreased from $300 million
|
| Issue: | Bond
|
| Maturity: | June 16, 2009
|
| Coupon: | 10%
|
| Issue price: | Par
|
| Yield: | 10%
|
| Spread: | U.S. Treasury note plus 601 basis points
|
| Pricing date: | June 9
|
| Settlement date: | June 16
|
| Bookrunners: | JP Morgan and UBS Investment Bank
|
| Ratings: | Moody's: B1
|
| Standard & Poor's: BB-
|
| Price talk: | 10%
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
