By Rebecca Melvin
New York, Feb. 6 – The Republic of Paraguay priced $500 million of 5.4% notes due 2050 at 99.987 on Tuesday for a yield spread of 234 basis points over U.S. Treasuries, according to a market source.
Pricing was tightened from initial talk for a 5.65% area yield.
Citigroup, Goldman Sachs and Morgan Stanley were bookrunners for the Rule 144A and Regulation S deal.
Proceeds are earmarked for capital expenditures and to refinance a portion of outstanding debt.
| Issuer: | Republic of Paraguay
|
| Issue: | Notes
|
| Amount: | $500 million
|
| Maturity: | March 30, 2050
|
| Bookrunners: | Citigroup, Goldman Sachs and Morgan Stanley
|
| Coupon: | 5.4%
|
| Price: | 99.987
|
| Yield: | 5.4%
|
| Spread: | Treasuries plus 234 bps
|
| Trade date: | Feb. 5
|
| Distribution: | Rule 144A and Regulation S
|
| Talk: | 5.65% area
|
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