By Aaron Hochman-Zimmerman
New York, April 7 - The Republic of Georgia (B+/BB-) priced $500 million of five-year bonds at par with a coupon of 7½%, according to a market source.
The deal priced with a spread of Treasuries plus 474 basis points or mid-swaps plus 398 bps.
The bonds came at the tight end of talk for a yield between 7½% and 7¾%.
JPMorgan and UBS were mandated to act as bookrunners for the Regulation S deal.
| Issuer: | Republic of Georgia
|
| Amount: | $500 million
|
| Issue: | Five-year eurobonds
|
| Maturity: | April 15, 2013
|
| Coupon: | 7½%
|
| Price: | Par
|
| Yield: | 7½%
|
| Spread: | Treasuries plus 474 bps, mid-swaps plus 398 bps
|
| Bookrunners: | JP Morgan, UBS
|
| Pricing date: | April 7
|
| Settlement date: | April 15
|
| Distribution: | Regulation S only
|
| Ratings: | Standard & Poor's: B+
|
| Fitch: BB-
|
| Price talk: | 7½% to 7¾%
|
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