Published on 9/24/2015 in the Prospect News Emerging Markets Daily.
New Issue: Pakistan prices $500 million 10-year notes at par to yield 8¼%
By Christine Van Dusen
Atlanta, Sept. 24 – Pakistan sold $500 million 10-year notes (B3//B) at par to yield 8¼% on Thursday, a syndicate source said.
The notes were talked at a yield in the low-8% area.
Citigroup, Deutsche Bank and Standard Chartered were the bookrunners for the Rule 144A and Regulation S deal.
Issuer: | Pakistan
|
Amount: | $500 million
|
Maturity: | Sept. 30, 2025
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Description: | Senior notes
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Bookrunners: | Citigroup, Deutsche Bank, Standard Chartered Bank
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Coupon: | 8¼%
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Price: | Par
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Yield: | 8¼%
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Trade date: | Sept. 24
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Settlement date: | Sept. 30
|
Ratings: | Moody's: B3
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| Fitch: B
|
Distribution: | Rule 144A and Regulation S
|
Price talk: | Low-8% area
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