LONDON, April 7 (IFR) - The Republic of Zambia, rated B+ by Standard & Poor’s and B by Fitch, has opened books on a new US-dollar denominated 10-year bond at initial price thoughts of 8.75-8.875%.
The benchmark-sized note will be sold under the 144a/Reg S format. The deal is expected to price later today.
Barclays and Deutsche Bank are the lead managers. (Reporting by Sudip Roy, editing by Anil Mayre)