Lebanon sets yields on three-tranche US dollar bond

viernes 30 de octubre de 2015 08:58 GYT

By Michael Turner

LONDON, Oct 30 (IFR) - The Republic of Lebanon has set the yields on all three-tranches of a US dollar-denominated Eurobond, according to a deal lead.

The 2024 tranche will yield 6.25%. This compares to revised price guidance of within 5bp of 6.30%, released earlier on Friday.

The 2028 trance has had its yield set at 6.65%, down from around 6.70% revised price guidance, while the 2035 tranche will yield 7.05%, down from guidance of around 7.10%.

Aggregate books for the deal ended at over US$1.3bn, with Lebanon's Central Bank expected to buy US$500m of the debt.

The new notes are part of a voluntary exchange for any-or-all of its US$750m 8.5% January 2016s.

Citigroup, Fransabank, Societe Generale de Banque au Liban and Standard Chartered Bank are running the deal. The transaction is expected to price on Friday.

Lebanon is rated B2 by Moody's, B- by Standard & Poor's and B by Fitch. (Reporting by Michael Turner; editing by Alex Chambers)