September 29, 2016 / 1:17 PM / a year ago

South Africa sets guidance for US dollar bonds

LONDON, Sept 29 (IFR) - South Africa has announced guidance on its dual-tranche transaction comprising 12 and 30-year US dollar bonds, according to a lead.

The sovereign is offering a yield of 4.4%-4.5% on the October 2028 notes. On the October 2046 bonds, guidance is 5.1%-5.2%.

That compares with initial price thoughts of 4.625% area and 5.375% area respectively.

Orderbooks are over US$5.5bn, including demand crossing over from a tender on its 2019 and 2020 bonds.

The benchmark-sized SEC-registered notes are today’s business via leads Barclays, HSBC (B&D), JP Morgan and Nedbank.

South Africa is rated Baa2/BBB-/BBB- (negative/negative/stable). (Reporting by Sudip Roy, editing by Julian Baker)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below