Zambia launches US$1bn 10-year Eurobond at a yield of 8.625% -source

lunes 7 de abril de 2014 11:34 GYT

By Sudip Roy

LONDON, April 7 (IFR) - The Republic of Zambia, rated B+ by Standard & Poor's and B by Fitch, has launched a US$1bn 10-year Eurobond at a final yield of 8.625%, according to a source.

The yield is at the tight end of revised guidance of 8.75% area (plus or minus 12.5bp).

Demand for the deal is over US$4.25bn.

Zambia began marketing the bond at 8.75%-8.875% earlier on Monday.

The new note will be sold under the 144A/Reg S format and is expected to price later today.

Barclays and Deutsche Bank are the lead managers. (Reporting by Sudip Roy; Editing by Philip Wright)