Russia's TMK launches $400 mln LPN at 10 pct

MOSCOW, July 18 (Reuters) - Russia's largest producer of steel pipes for the oil and gas sector, TMK (TRMK.MM: Quote, Profile, Research) (TRMKq.L: Quote, Profile, Research), launched three-year $400 million loan participation notes at a yield of 10 percent on Friday, a banking source said.

The yield came at the bottom end of initial guidance of 10.00-10.25 percent. ABN Amro, Barclays, ING and UBS are joint coordinators of the issue. (Reporting by Dmitry Zhdannikov; Editing by Quentin Bryar)