New Issue-Afren plc sells $450 mln in notes

Fri Jan 28, 2011 9:56am EST 

  Jan 28 (Reuters) - Afren plc (AFRE.L) late on Thursday
sold $450 million of senior secured notes in the 144a private
placement market, said IFR, a Thomson Reuters service.
  BNP Paribas, Goldman Sachs and Deutsche Bank were the
joint bookrunning managers for the sale.
BORROWER: AFREN PLC
AMT $450 MLN      COUPON 11.5 PCT     MATURITY 2/1/2016  
TYPE SR NTS       ISS PRICE 99.077    FIRST PAY 8/1/2011 
MOODY'S N/A       YIELD 11.75 PCT     SETTLEMENT 2/3/2011
S&P B-MINUS       SPREAD 977 BPS      PAY FREQ SEMI-ANNUAL
FITCH SINGLE-B     MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS
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