By Cristal Cody
Chicago, April 4 – The Kingdom of Belgium priced $1.25 billion of 4.875% bonds due 2055 on Wednesday, according to a source.
The total order book was in excess of $2.75 billion.
The notes priced at 99.325 to yield 4.918%, or at Treasuries plus 39 basis points.
Price talk was in the Treasuries plus 40 bps area.
Morgan Stanley was listed as bookrunner.
BofA Securities, Citigroup and Deutsche Bank were listed as co-lead managers.
The sale was unusual as the kingdom rarely issues in dollars, last selling a dollar benchmark deal in May 2020. Notably, it’s also the first 30-year dollar benchmark syndication ever for Belgium and the first 30-year dollar syndication from a core or semi-core European sovereign since 1996.
| Issuer: | Belgium
|
| Amount: | $1.25 billion
|
| Issue: | Bonds
|
| Maturity: | June 10, 2055
|
| Bookrunners: | Morgan Stanley
|
| Co-managers: | BofA Securities, Citigroup and Deutsche Bank
|
| Coupon: | 4.875%
|
| Price: | 99.325
|
| Yield: | 4.918%
|
| Spread: | Treasuries plus 39 bps
|
| Trade date: | April 3
|
| Settlement date: | April 10
|
| Price talk: | Treasuries plus 40 bps area
|
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