By Christine Van Dusen
Atlanta, April 8 - Zambia sold $1 billion 8½% notes due in 2024 (/B+/B) at 99.174 to yield 8 5/8% on Monday, a syndicate source said.
The notes were initially talked at 8¾% to 8 7/8%.
Barclays and Deutsche Bank were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used for general corporate purposes.
| Issuer: | Zambia
|
| Amount: | $1 billion
|
| Maturity: | 2024
|
| Description: | Senior notes
|
| Bookrunners: | Barclays, Deutsche Bank
|
| Coupon: | 8½%
|
| Price: | 99.174
|
| Yield: | 8 5/8%
|
| Price talk: | 8¾% to 8 7/8%
|
| Trade date: | April 7
|
| Ratings: | Standard & Poor's: B+
|
| Fitch: B
|
| Distribution: | Rule 144A and Regulation S
|
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