By Christine Van Dusen
Atlanta, Sept. 29 – South Africa priced a $3 billion issue of 12- and 30-year notes on Thursday, according to an informed source.
The deal included $2 billion of notes due 2028 that priced at par to yield 4.3%, following talk in the 4 5/8% area.
Also, $1 billion of 30-year notes priced at par to yield 5%, following talk in the 5 3/8% area.
Barclays Bank, HSBC, JPMorgan and Nedbank were the bookrunners for the deal, concurrently with a tender offer.
The proceeds will be used for general purposes of the government, including financial investment and the refinancing, repurchase or retiring of domestic and external debt. A portion of the proceeds will also be used for liability management transactions, including the payment of the purchase price for the old notes.
| Issuer: | South Africa
|
| Amount: | $3 billion
|
| Description: | Notes
|
| Bookrunners: | Barclays Bank, HSBC, JPMorgan, Nedbank
|
| Trade date: | Sept. 29
|
| Settlement date: | Oct. 12
|
|
|
| 12-year notes
|
| Amount: | $2 billion
|
| Maturity: | Oct. 12, 2028
|
| Coupon: | 4.3%
|
| Price: | Par
|
| Yield: | 4.3%
|
| Price talk: | 4 5/8% area
|
|
|
| 30-year notes
|
| Amount: | $1 billion
|
| Maturity: | Oct. 12, 2046
|
| Coupon: | 5%
|
| Price: | Par
|
| Yield: | 5%
|
| Price talk: | 5 3/8% area
|
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