By Christine Van Dusen
Atlanta, Nov. 20 - El Salvador (Ba1/BB/BB) priced $800 million 10-year notes on Friday to yield 7 3/8%, according to a market source.
The yield came outside the tight end of price talk.
Price talk was set at 7 5/8% to 7¾% following a roadshow that ended Thursday on the U.S. West Coast.
Citigroup and JPMorgan were the bookrunners for the Rule 144A and Regulation S deal.
Proceeds will be used for refinancing.
| Issuer: | El Salvador
|
| Amount: | $800 million
|
| Maturity: | 2019
|
| Bookrunners: | Citigroup, JPMorgan
|
| Yield: | 7 3/8%
|
| Trade date: | Nov. 20
|
| Distribution: | Rule 144A/Regulation S
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB
|
| Fitch: BB
|
| Price talk: | 7 5/8% to 7¾%
|
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