Ivory Coast to offer dollar-, euro-denominated bonds to fund tender

By Colin Hanner

Chicago, May 31 – Ivory Coast intends to offer dollar- and euro-denominated bonds as part of a tender offer, the country said in a news release.

The offering includes a 16-year Rule 144A and Regulation S dollar benchmark bond, as well as a euro benchmark bond with a six- to eight-year maturity, a market source said, citing a media report.

BNP Paribas, Deutsche Bank, JPMorgan, Natixis and Standard Chartered are the bookrunners for the deal, the market source said.

The tender offer is for up to $250 million of the sovereign’s outstanding 5 3/8% notes due 2024 and up to $500 million of its outstanding dollar-denominated step-up bonds due 2032.

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