By Christine Van Dusen
Atlanta, Jan. 9 - South Africa priced $1.5 billion 4.665% notes due January 2024 (A3/BBB+/BBB+) at par to yield 4.665%, or Treasuries plus 270 basis points, a market source said.
Barclays Capital and Citigroup were the bookrunners for the Securities and Exchange Commission-registered deal, which priced in line with talk.
Proceeds will be used to repay maturing debt and for general governmental purposes, according to a filing from the sovereign.
| Issuer: | South Africa
|
| Amount: | $1.5 billion
|
| Maturity: | January 2024
|
| Description: | Global notes
|
| Bookrunners: | Barclays Capital, Citigroup
|
| Coupon: | 4.665%
|
| Price: | Par
|
| Yield: | 4.665%
|
| Spread: | Treasuries plus 270 bps
|
| Trade date: | Jan. 9
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
| Distribution: | Securities and Exchange Commission-registered
|
| Price talk: | Treasuries plus 270 bps
|
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