By Reshmi Basu
New York, June 9 - The Central Bank of Tunisia priced an upsized €400 million issue of 15-year bonds (Baa2/BBB/BBB) at 98.859 with a 4½% coupon to yield 4.607%, or mid-swaps plus 107 basis points, according to a market source.
The deal, increased from €300 million, came in tighter than price guidance. Guidance had been set in the area of mid-swaps plus 110 basis points.
Citigroup and Dresdner Kleinwort Wasserstein were joint bookrunners for the Rule 144A/Regulation S offering.
Proceeds will be used to refinance a ¥15 billion samurai bond maturing this year.
| Issuer: | Central Bank of Tunisia
|
| Amount: | €400 million
|
| Issue: | Eurobond
|
| Maturity: | June 20, 2020
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| Coupon: | 4½%
|
| Issue price: | 98.859
|
| Yield: | 4.607%
|
| Spread: | Mid-swaps plus 107 basis points
|
| Pricing date: | June 9
|
| Settlement date: | June 22
|
| Joint bookrunners: | Citigroup, Dresdner Kleinwort Wasserstein
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
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