Published on 4/28/2016 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Black Sea sells $500 million 4 7/8% notes due 2021 at 375 bps spread
By Christine Van Dusen
Atlanta, April 28 – Greece’s Black Sea Trade and Development Bank priced $500 million 4 7/8% five-year notes (A2/A-) at 99.27 to yield Treasuries plus 375 basis points on Thursday, a market source said.
JPMorgan and HSBC were the bookrunners for the Rule 144A and Regulation S deal.
The company is a financial and development institution based in Thessaloniki.
| Issuer: | Black Sea Trade and Development Bank
|
| Amount: | $500 million
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| Maturity: | May 6, 2021
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| Description: | Senior notes
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| Bookrunners: | HSBC, JPMorgan
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| Coupon: | 4 7/8%
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| Price: | 99.27
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| Spread: | Treasuries plus 375 bps
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| Trade date: | April 28
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| Settlement date: | May 6
|
| Ratings: | Moody's: A2
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| Standard & Poor's: A-
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| Distribution: | Rule 144A and Regulation S
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