By Christine Van Dusen
Atlanta, July 19 - Nigeria's Access Bank plc priced a $350 million issue of 7¼% notes due July 25, 2017 (/B+/B) at par to yield Treasuries plus 665 basis points, a market source said.
The notes priced in line with talk, which was set at the low- to mid-7% area.
Citigroup and Goldman Sachs were the bookrunners for the Rule 144A and Regulation S deal.
Access Bank is a Nigeria-based commercial lender.
| Issuer: | Access Bank plc
|
| Amount: | $350 million
|
| Maturity: | July 25, 2017
|
| Description: | Notes
|
| Bookrunners: | Citigroup, Goldman Sachs
|
| Coupon: | 7¼%
|
| Price: | Par
|
| Yield: | 7¼%
|
| Spread: | Treasuries plus 665 bps
|
| Trade date: | July 18
|
| Settlement date: | July 25
|
| Ratings: | Standard & Poor's: B+
|
| Fitch: B
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | low- to mid-7% area
|
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