Burundi’s PTA Bank to offer add-on to dollar 5 3/8% five-year notes at 5.3% area yield

By Colin Hanner

Chicago, April 20 – Burundi’s Eastern and Southern African Trade and Development Bank, commonly known as PTA Bank, will sell additional dollar-denominated five-year senior notes with initial price talk in the 5.3% area, a market source said.

The size of the deal has yet to be determined, but it will be consolidated and form a single series with the existing $500 million 5 3/8% notes due March 14, 2022, which were issued on March 14, a market source said.

The original notes (Ba1//BB) were priced at 99.46 to yield 5½%

The new notes are expected to settle on April 27.

Commerzbank, MUFG and Standard Chartered are bookrunners for the Regulation S deal.

Eastern and Southern African Trade and Development Bank is a Bujumbura, Burundi-based lender for regional development.

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