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NEW YORK, Aug 4 (IFR) - The Republic of Paraguay has set official price guidance of 6.125% to 6.250% on its upcoming issue of a new 30-year US dollar-denominated bond, according to market sources.
The sovereign, rated Ba2/BB/BB-, had set initial price thoughts at 6.375% area for the issue, which is expected to be benchmark-sized and price later on Monday.
Paraguay will use proceeds to finance infrastructure and energy projects as well as to provide support for certain sectors of the economy.
Bank of America Merrill Lynch and JP Morgan are the lead managers on the 144A/Reg S transaction. (Reporting by Davide Scigliuzzo; Editing by Marc Carnegie)