Energy equipment producer issues $150 mln credit notes ........................................
14:02 | 06/ 04/ 2006
ST. PETERSBURG, April 6 (RIA Novosti, Olga Vtorova) - The Energomash group of energy equipment producers has issued $150 million credit-linked notes, one of the issue's lead managers said Thursday.
CIT Finance said Energomash had issued $150 million subordinated loan participation notes (LPNs), with an option of early redemption in two years' time, to mature on April 5, 2010. The notes have been placed at par value and carry a six-month coupon of 9.5% per annum. More than 40% were floated on Western markets.
The credit notes were issued by CF Structured Products B.V., which gave Energomash (UK) Limited a dollar-denominated loan and issued the LPNs. The payment settlement systems Euroclear and Clearstream were chosen as the clearinghouses.
Investors from Great Britain, Austria, Switzerland, Cyprus, Scandinavian and Baltic countries participated in the flotation.
CIT Finance, Vneshtorgbank, Transcreditbank and Soyuz Bank are the issue's lead managers. CIT Finance is the issue's book-runner.
Energomash companies develop, produce, deliver, assembly and maintain turbine, electric and heat exchange equipment, and also equipment for the oil and gas, oil refining, metals, chemical, construction and other industries.
The group includes eight large machine-building enterprises located across Russia. |
