By Christine Van Dusen
Atlanta, Aug. 4 – Paraguay sold $1 billion notes due in 2044 (Ba2/BB/BB-) at par to yield 6.1% on Monday, a market source said.
The notes were initially talked at a yield in the 6 3/8% area.
BofA Merrill Lynch and JPMorgan were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to finance infrastructure and energy projects and to support the economy.
Issuer: | Paraguay
|
Amount: | $1 billion
|
Maturity: | 2044
|
Description: | Notes
|
Bookrunners: | BofA Merrill Lynch, JPMorgan
|
Coupon: | 6.1%
|
Price: | Par
|
Yield: | 6.1%
|
Trade date: | Aug. 4
|
Ratings: | Moody’s: Ba2
|
| Standard & Poor’s: BB
|
| Fitch: BB-
|
Distribution: | Rule 144A and Regulation S
|
Price talk: | 6 3/8% area
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