By Reshmi Basu
New York, June 1 - The Republic of El Salvador priced an upsized offering of $375 million of 30-year bonds (Baa3/BB+/BB+) at 99.474 with a 7.65% coupon to yield 7.695%, or 345 basis points over Treasuries, according to a market source.
The deal, increased from $300 million, came in line with price guidance. Earlier in the session, guidance had been set in the area of 345 basis points over Treasuries.
Deutsche Bank Securities ran the Rule 144A/Regulation S deal.
| Issuer: | Republic of El Salvador
|
| Amount: | $375 million
|
| Issue: | Sovereign bonds
|
| Tenor: | 30 years
|
| Coupon: | 7.65%
|
| Issue price: | 99.474
|
| Yield: | 7.695%
|
| Spread: | Treasuries plus 345 basis points
|
| Pricing date: | June 1
|
| Settlement date: | June 10
|
| Bookrunner: | Deutsche Bank Securities
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BB+
|
| Fitch: BB+
|
| Price guidance: | Treasuries plus 345 basis points area
|
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