Chicago, Feb. 6 – The republic of Paraguay priced its two-part offering of new bonds (//BB+) on Monday, according to news releases from the Central Bank of Paraguay and the Ministry of Economy and Finance.
The deal was essentially equally split between U.S. dollars and the national currency, with one part $500 million and the other the equivalent of $500 million.
The republic sold $500 million of 6% 12-year bonds and a $500 million equivalent of 7.9% bonds with a seven-year tenor in guaranies.
The order book was $4.1 billion for the dollar bonds and the equivalent of $1.2 billion for the local currency tranche.
The bonds are being used to fund a tender offer for existing 5% bonds due 2026. The settlement date is expected to be on or before Feb. 15 when the tender offer ends.
Representatives of the economy visited England and the United States to carry out the issuance.
| Issuer: | Paraguay
|
| Amount: | $1 billion equivalent
|
| Issue: | Bonds
|
| Trade date: | Feb. 5
|
| Ratings: | Fitch: BB+
|
|
|
| Dollar bonds
|
| Amount: | $500 million
|
| Tenor: | 12 years
|
| Coupon: | 6%
|
|
|
| Local currency bonds
|
| Amount: | PYG 3,643,235,000,000
|
| Tenor: | Seven years
|
| Coupon: | 7.9%
|
|
|
© 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.
