By Christine Van Dusen
Atlanta, Nov. 4 - Nigeria's Guaranty Trust Bank plc priced $400 million 6% five-year notes (expected ratings: /BB-/B+) at 99.469 to yield 6 1/8%, a syndicate source said.
The notes were talked at a yield in the 6¼% area.
JPMorgan and Morgan Stanley were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used for general corporate purposes.
The issuer is based in Lagos, Nigeria.
| Issuer: | Guaranty Trust Bank plc
|
| Amount: | $400 million
|
| Maturity: | Nov. 8, 2018
|
| Description: | Notes
|
| Bookrunners: | JPMorgan, Morgan Stanley
|
| Coupon: | 6%
|
| Price: | 99.469
|
| Yield: | 6 1/8%
|
| Trade date: | Nov. 4
|
| Settlement date: | Nov. 8
|
| Expected ratings: | Standard & Poor's: BB-
|
| Fitch: B+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 6¼% area
|
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