New Issue: Burundi's PTA Bank prices $300 million 6 7/8% five-year notes to yield 7 1/8%

By Christine Van Dusen

Atlanta, Nov. 4 - Eastern and Southern African Trade and Development Bank (PTA Bank) priced $300 million 6 7/8% notes due Jan. 9, 2016 (Ba1//BB-) at 98.909 to yield 7 1/8%, or Treasuries plus 609.4 basis points, a market source said.

HSBC and Standard Chartered were the bookrunners for the Regulation S notes, which were talked at a yield in the 7 1/8% area.

PTA Bank is a Burundi-based lender.

Issuer:	Eastern and Southern African Trade and Development Bank (PTA Bank)
Amount:	$300 million
Maturity:	Jan. 9, 2016
Description:	Notes
Bookrunners:	HSBC, Standard Chartered
Coupon:	6 7/8%
Price:	98.909
Yield:	7 1/8%
Spread:	Treasuries plus 609.4 bps
Trade date:	Nov. 4
Settlement date:	Nov. 9
Ratings:	Moody's: Ba1
	Fitch: BB-
Distribution:	Regulation S
Price talk:	7 1/8% area

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