Chicago, Feb. 1 – Paraguay priced $500.6 million of 3.849% bonds due 2033 (BB) in a Rule 144A and Regulation S transaction, according to the listing particulars.
The bonds priced at 99.994.
Before March 28, 2033 the bonds are redeemable with a Treasuries plus 35 basis points make-whole premium. After that date, the bonds can be redeemed at par.
The bonds are listed on the Luxembourg Stock Exchange.
Citigroup and Goldman Sachs & Co. LLC are the joint bookrunners.
Proceeds were used to fund a tender for the republic’s bonds due 2023 and 2026.
| Issuer: | Paraguay
|
| Amount: | $500.6 million
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| Issue: | Bonds
|
| Maturity: | June 28, 2033
|
| Bookrunners: | Citigroup and Goldman Sachs & Co. LLC
|
| Co-managers:
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| Trustee: | Bank of New York Mellon
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| Counsel to issuer: | Hughes Hubbard & Reed LLP, Parquet & Asociados
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| Counsel to underwriters: | Cleary Gottlieb Steen & Hamilton LLP, Gross Brown
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| Coupon: | 3.849%
|
| Price: | 99.994
|
| Call features: | Make-whole call at Treasuries plus 35 bps until March 28, 2033; thereafter at par
|
| Trade date: | Jan. 20
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| Settlement date: | Jan. 28
|
| Ratings: | S&P: BB
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| Distribution: | Rule 144A and Regulation S
|
| Cusip: | 699149AL4, P75744AL9
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