Published on 4/22/2015 in the Prospect News Emerging Markets Daily.
New Issue: Nigeria’s Africa Finance prices $500 million 4 3/8% five-year notes at 320 bps spread
By Christine Van Dusen
Atlanta, April 22 – Nigeria’s Africa Finance Corp. priced a $500 million issue of 4 3/8% five-year notes at 99.027 to yield 4.595%, or Treasuries plus 320 basis points, a syndicate source said.
The notes were initially talked at a spread in the Treasuries plus 350 bps area.
Citigroup, MUFG, Standard Bank and Standard Chartered were the bookrunners for the Rule 144A and Regulation S deal.
The financial services provider is based in Lagos.
| Issuer: | Africa Finance Corp.
|
| Amount: | $500 million
|
| Maturity: | April 29, 2020
|
| Description: | Senior notes
|
| Bookrunners: | Citigroup, MUFG, Standard Bank, Standard Chartered
|
| Coupon: | 4 3/8%
|
| Price: | 99.027
|
| Yield: | 4.595%
|
| Spread: | Treasuries plus 320 bps
|
| Trade date: | April 22
|
| Settlement date: | April 29
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 350 bps area
|
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