Tinkoff Credit Systems on Thursday printed the highest yielding note of the year from the CEEMEA region — a $125m 14% 5.5 year deal — pulling off a subordinated debt trade that some doubted would be possible and even increasing the size from its original target of $100m. The book for the deal reached $160m.
Goldman Sachs and JP Morgan arranged the deal, which was priced at par, in line with guidance released on Wednesday.
"We could have gone inside 14% for a smaller deal size," said Albert Sagiryan, Goldman Sachss Moscow-based investment banking co-head of financing group for Russia and the CIS. "We