Benin selects banks for euro benchmark offering of 11-year notes

By Rebecca Melvin

New York, Jan. 5 – The Republic of Benin has selected banks and scheduled fixed-income investor meetings for a planned benchmark-sized offering of euro-denominated notes of 11-year final maturity, according to a syndicate source on Tuesday.

The notes will have a weighted average life of 10 years.

Citigroup and Societe General will organize the meetings set to begin on Wednesday, and a Rule 144A and Regulation S benchmark will follow subject to market conditions.

In conjunction with offering of new notes, Benin has announced a cash tender offer for its €500 million of 5¾% amortizing notes due 2026.

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