By Christine Van Dusen
Atlanta, Dec. 5 - Gabon priced $890 million 11-year notes (/BB-/BB-) at par to yield 6 3/8% on Thursday, according to a filing from the sovereign.
The notes priced tighter than talk, set in the 6½% area.
Citigroup, Deutsche Bank and Standard Chartered Bank were the bookrunners for the Rule 144A and Regulation S deal.
The new deal was part of an exchange and tender offer of Gabon's $1 billion 8.2% notes due in 2017. The sovereign took in about $610 million from the exchange process, according to the filing.
| Issuer: | Gabon
|
| Amount: | $890 million
|
| Maturity: | Dec. 12, 2024
|
| Description: | Notes
|
| Bookrunners: | Citigroup, Deutsche Bank, Standard Chartered Bank
|
| Coupon: | 6 3/8%
|
| Price: | Par
|
| Yield: | 6 3/8%
|
| Trade date: | Dec. 5
|
| Settlement date: | Dec. 12
|
| Ratings: | Standard & Poor's: BB-
|
| Fitch: BB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 6½% area
|
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