Published on 4/30/2018 in the Prospect News Emerging Markets Daily.
New Issue: Lebanon’s Blom Bank prices $300 million five-year CDs to yield 7˝%
By Rebecca Melvin
New York, April 30 – Blom Bank sal priced a $300 million five-year issue of deposit certificates (expected rating: B3) at par to yield 7˝%, according to a syndicate source.
Citigroup and Deutsche Bank were bookrunners of the debt securities issued under Regulation S only.
The Lebanese bank, based in Beirut, priced the issue on Friday.
| Issuer: | Blom Bank sal
|
| Issue: | Deposit certificates
|
| Amount: | $300 million
|
| Maturity: | May 4, 2023
|
| Bookrunners: | Citigroup and Deutsche Bank
|
| Coupon: | 7˝%
|
| Price: | Par
|
| Yield: | 7˝%
|
| Pricing date: | April 27
|
| Settlement date: | May 4
|
| Expected rating: | Moody’s: B3
|
| Distribution: | Regulation S
|
| Price talk: | 7˝%
|
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