Papua New Guinea mandates banks, sets roadshow for dollar notes

By Rebecca Melvin

New York, Sept. 4 – Papua New Guinea has selected banks and set roadshow meetings for a planned U.S. dollar-denominated benchmark offering of senior unsecured notes (expected rating: B2/B), according to market sources.

Citigroup and Credit Suisse are bookrunners for the Rule 144A and Regulation S notes, which are expected to have a tenor of five to 10 years.

Meetings with international fixed-income bond investors were set to start on Wednesday in Singapore, Hong Kong and London.

Proceeds will be used primarily to refinance existing short-term domestic debt and finance government spending on infrastructure and development projects and operational expenses for the Asia-Pacific Economic Cooperation Summit to be hosted by Papua New Guinea in November.

© 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.