By Colin Hanner
Chicago, June 1 – Guatemala sold $500 million 4 3/8% 10-year notes (//BB) at 99.002 to yield 4½% on Thursday, a market source said.
Initial price talk was in the 4¾% area before tightening to 4½%, a market source said.
Citigroup was the bookrunner for the deal.
The proceeds will be used to pay interest and principal on outstanding debt obligations and finance social programs and capital expenditures, Fitch Ratings said in a news release.
The size of the book was more than $1.65 billion.
| Issuer: | Guatemala
|
| Description: | Notes
|
| Amount: | $500 million
|
| Maturity: | 2027
|
| Bookrunner: | Citigroup
|
| Coupon: | 4 3/8%
|
| Price: | 99.002
|
| Yield: | 4½%
|
| Trade date: | June 1
|
| Rating: | Fitch: BB
|
| Price talk: | 4½%, tightened from 4¾% area
|
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