Published on 2/8/2018 in the Prospect News Emerging Markets Daily.
New Issue: Greece sells €3 billion 3 3/8% seven-year notes at 99.236 to yield 3½%
By Rebecca Melvin
New York, Feb. 8 – The Hellenic Republic priced €3 billion of 3 3/8% seven-year notes (expected ratings: Caa2/B/B-) on Thursday at a reoffered price of 99.236 for a yield of 3½%, according to a market source.
Price guidance was tightened from initial talk in the area of 3¾%.
Barclays, BNP Paribas, Citigroup, JPMorgan and Nomura are the bookrunners of the Rule 144A and Regulation S notes.
Listing on the Athens exchange is expected.
| Issuer: | The Hellenic Republic
|
| Issue: | Notes
|
| Amount: | €3 billion
|
| Maturity: | Feb. 15, 2025
|
| Bookrunners: | Barclays, BNP Paribas, Citigroup, JPMorgan and Nomura
|
| Coupon: | 3 3/8%
|
| Price: | 99.236
|
| Yield: | 3½%
|
| Pricing date: | Feb. 8
|
| Settlement date: | Feb. 15
|
| Ratings: | Moody’s: Caa2
|
| S&P: B
|
| Fitch: B-
|
| Distribution: | Regulation S and Rule 144A
|
| Price talk: | 3½%, tightened from initial talk at 3¾% area
|
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