25 Sep 2009 18:40

Renaissance Capital to offer $225 mln in new LPN to replace issue maturing in 2009

MOSCOW. Sept 25 (Interfax) - Renaissance Capital will swap $100.377 million in loan participation notes (LPN) maturing in 2009 with LPN maturing in 2011, the company said in a statement.

The previous LPN issue was for $250 million and had a coupon rate of 8.75%. Thus, Renaissance Capital will replace 40.2% of the issue with new, more long-term LPN.

In addition, the company will place these LPN additionally on the market.

The new LPN have nominal value of $225 million.