Novatek Finance has raised $1.25 billion in a sale of two-part loan participation notes in the 144a private placement market, Reuters reports. The Russian independent natural gas producer appointed BNP Paribas, Citigroup, and RBS as the joint bookrunning managers for the deal.
The $600 million notes sold in the first tranche carry a coupon rate of 5.326% and are due to mature on Feb. 3, 2016. The $650 million notes sold in the second tranche carry a coupon rate of 6.604% and are due to mature on Feb. 3, 2021.
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