By Colin Hanner
Chicago, April 21 – Burundi’s Eastern and Southern African Trade and Development Bank, commonly known as PTA Bank, priced a $200 million add-on to its existing $500 million 5 3/8% notes due 2022 at 100.74 to yield 5.2% on Thursday, a market source said.
Price talk tightened to 5.2% from an initial 5.3% area.
The new notes are expected to settle on April 27.
Commerzbank, MUFG and Standard Chartered were the bookrunners for the Regulation S deal.
PTA Bank previously sold $500 million of the 5 3/8% notes, which were issued on March 14.
The original notes (Ba1//BB) were priced at 99.46 to yield 5½%.
Eastern and Southern African Trade and Development Bank is a Bujumbura, Burundi-based lender for regional development.
| Issuer: | Eastern and Southern African Trade and Development Bank
|
| Description: | Add-on notes
|
| Amount: | $200 million
|
| Maturity: | 2022
|
| Bookrunners: | Commerzbank, MUFG and Standard Chartered
|
| Coupon: | 5 3/8%
|
| Price: | 100.74
|
| Yield: | 5.2%
|
| Trade date: | April 20
|
| Settlement date: | April 27
|
| Distribution: | Regulation S
|
| Price talk: | 5.2%, revised from initial 5.3% area
|
| Original issue: | $500 million priced at 99.46 to yield 5½% in deal that closed on March 14
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
