West African Development Bank guides $1.7 billion 12-year notes with 4 7/8% area yield

New York, Oct. 15 – West African Development Bank guided pricing on a $1.7 billion offering of 12-year notes to yield in the area of 4 7/8%, according to a syndicate source on Tuesday.

The Rule 144A and Regulation S notes had been talked as senior notes with a term of 10 to 15 years when the deal was initially announced last week.

BNP Paribas, JPMorgan, Natixis and Standard Chartered Bank are bookrunners of the deal.

The Lome, Togo-based lender is a regional development bank for states of the West African Economic and Monetary Union.

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