New Issue-TransCapital sells $1.65 bln in 2 parts

Thu Jul 31, 2008 6:08pm EDT 

  July 31 (Reuters) - TransCapital Limited, a subsidiary of
OJSC AK Transneft, on Thursday sold $1.65 billion notes in two
parts in the 144a private placement market, said a market
source.
  Credit Suisse was the sole bookrunning manager for the
sale, the source said.
BORROWER: TRANSCAPITAL LIMITED*
FIRST TRANCHE:
AMT $600 MLN       COUPON 7.70 PCT     MATURITY 8/7/2013  
TYPE NOTES         ISS PRICE 100       FIRST PAY 2/7/2009 
MOODY'S A2         YIELD 7.70 PCT      SETTLEMENT 8/7/2008
S&P BBB-PLUS       SPREAD 444 BPS/     PAY FREQ SEMI-ANNUAL
FITCH N/A            MORE THAN TREAS   NON-CALLABLE       
SECOND TRANCHE:
AMT $1.05 BLN      COUPON 8.70 PCT     MATURITY 8/7/2018  
TYPE NOTES         ISS PRICE 100       FIRST PAY 2/7/2009 
MOODY'S A2         YIELD 8.70 PCT      SETTLEMENT 8/7/2008
S&P BBB-PLUS       SPREAD 473 BPS/     PAY FREQ SEMI-ANNUAL
FITCH N/A            MORE THAN TREAS   NON-CALLABLE       
*GUARANTEED BY PARENT HOLDCO OJSC AK TRANSNEFT
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