By Christine Van Dusen
Atlanta, Dec. 2 - Burundi's Eastern and Southern African Trade and Development Bank (PTA Bank) sold $300 million five-year notes (Ba1//BB) at par to yield 6 3/8%, or mid-swaps plus 490.5 basis points, a market source said.
The notes were talked at a yield in the 6½% area.
BNP Paribas and Standard Chartered Bank were the bookrunners for the Regulation S deal.
PTA Bank is a lender based in Bujumbura, Burundi.
| Issuer: | Eastern and Southern African Trade and Development Bank (PTA Bank)
|
| Amount: | $300 million
|
| Maturity: | Dec. 6, 2018
|
| Description: | Notes
|
| Bookrunners: | BNP Paribas, Standard Chartered Bank
|
| Coupon: | 6 3/8%
|
| Price: | Par
|
| Yield: | 6 3/8%
|
| Spread: | Mid-swaps plus 490.5 bps
|
| Trade date: | Nov. 29
|
| Settlement date: | Dec. 6
|
| Ratings: | Moody's: Ba1
|
| Fitch: BB
|
| Distribution: | Regulation S
|
| Price talk: | 6½% area
|
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