Chicago, May 29 – Guatemala sold $1.2 billion of notes (BB-/BB) in a two-part offering, according to a press release.
The first tranche is for $700 million with a 30-year maturity and an interest rate of 6 1/8%. This was the first 30-year note for the issuer.
The second tranche is for $500 million of 10-year notes with a rate of 4.9%.
Citigroup Global Markets Inc. was the bookrunner for the deal.
Demand for the deal was $3.3 billion, a little less than three times oversubscribed by more than 150 different investors.
Proceeds will be used to pay interest and principal on its outstanding debt with the remainder used to finance social and infrastructure programs and capital expenditures, according to S&P Global Ratings.
| Issuer: | Guatemala
|
| Description: | Notes
|
| Amount: | $1.2 billion
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Announcement date: | May 23
|
| Ratings: | S&P: BB-
|
| Fitch: BB
|
|
|
| 30-year notes
|
| Amount: | $700 million
|
| Maturity: | 2049
|
| Coupon: | 6 1/8%
|
|
|
| 10-year notes
|
| Amount: | $500 million
|
| Maturity: | 2029
|
| Coupon: | 4.9%
|
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