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Millicom prices upsized $750 million deal; Emirates NBD up in secondary; Ghana tightens
By Rebecca Melvin
New York, March 14 – Millicom International Cellular SA, which operates in Latin America and Africa, priced an upsized $750 million issue of 10-year senior notes at par to yield 6¼%, and Banco do Brasil SA was also in the market on Thursday with a $750 million five-year deal.
The telecom company’s notes priced tight to yield guidance in the area of 6 3/8% and initial price talk of 6½% area.
Banco do Brasil SA also priced $750 million of five-year senior notes at par on Wednesday to yield 4¾%.
Elsewhere, Emirates NBD Bank PJSC’s newly priced 6 1/8% perpetual securities were higher in trade on Thursday after the Dubai lender priced $1 billion of the tier 1 debt that is non-callable for six years.
The Emirates NBD perpetuals were quoted 100.45 bid, 100.65 offered on Thursday after they priced at par on Wednesday.
Ghana’s bonds tightened by 12 basis point to 14 bps, and the spectrum of African debt was slightly tighter on the heels of news that the republic is in the market for a proposed U.S. dollar-denominated benchmark of medium-term duration as well as offers to purchase existing bonds.
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