OREANDA-NEWS. November 26, 2007.  Group of companies ESTAR (Electric Steel of Russia) appointed the Bank of Moscow  (RTS Board code - MMBM) to be the only lead-manager for the prime issue of LPN (loan participation notes) worth $100-150 mln, a source in the banking sector informed Interfax-AFI.

It is planned to allocate LPN with the interest rate of about 12% p.a., according to the source.

Three-year notes will be dollar denominated. The issue envisages a 2-year offer and a few covenants. The securities have a 6-month coupon periods. The enterprise plans a road show in late November – early December, according to the agency’s informer.