By Christine Van Dusen
Atlanta, Nov. 26 – Kenya priced $750 million in taps of its notes due June 24, 2019 and 2024, a market source said.
The $250 million 5 7/8% notes due 2019 priced at 103.524 to yield 5%, or Treasuries plus 342.9 basis points.
The notes were talked at a yield of 5% to 5.1%.
The $500 million notes due 2024 priced at 107.041 to yield 5.9%, or Treasuries plus 363.6 bps.
Talk was set at 6¼%.
Barclays, JPMorgan and Standard Chartered Bank were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used for general budgetary purposes.
| Issuer: | Kenya
|
| Amount: | $750 million
|
| Description: | Notes
|
| Bookrunners: | Barclays, JPMorgan, Standard Chartered Bank
|
| Trade date: | Nov. 25
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Notes due 2019
|
| Amount: | $250 million
|
| Maturity: | June 24, 2019
|
| Coupon: | 5 7/8%
|
| Price: | 103.524
|
| Yield: | 5%
|
| Spread: | Treasuries plus 342.9 bps
|
| Price talk: | 5% to 5.1%
|
|
|
| Notes due 2024
|
| Amount: | $500 million
|
| Maturity: | June 24, 2024
|
| Price: | 107.041
|
| Yield: | 5.9%
|
| Spread: | Treasuries plus 363.6 bps
|
| Price talk: | 6¼%
|
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