September 29, 2016 / 2:57 PM / 10 months ago

South Africa launches US dollar bonds

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Sept 29 (IFR) - South Africa has launched its dual-tranche 12 and 30-year US dollar bonds, according to a lead.

The sovereign launched US$2bn October 2028 notes at a yield of 4.3%. That compares with guidance of 4.4%-4.5% and initial price thoughts of 4.625% area.

It also launched US$1bn October 2046 notes at a yield of 5.0%. That compares with guidance of 5-1%%-5.2% and initial price thoughts of 5.375%.

Orderbooks were over US$5.5bn at the last update, including demand crossing over from a tender on its 2019 and 2020 bonds.

The benchmark-sized SEC-registered notes will price on Thursday via leads Barclays, HSBC (B&D), JP Morgan and Nedbank.

South Africa is rated Baa2/BBB-/BBB- (negative/negative/stable). (Reporting by Robert Hogg, editing by Robert Smith)

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