March 12, 2015 / 4:27 PM / 3 years ago

Montenegro launches 500m five-year bond at 4% yield

LONDON, March 12 (IFR) - Montenegro has launched a 500m five-year bond at 4% yield, according to a lead.

Demand for the deal was in excess of 1.3bn at 1430 GMT.

The sovereign began marketing the deal at 4.125% area earlier on Thursday.

Citigroup, Deutsche Bank, Erste Group and Societe Generale are running the Regs S/144A transaction.

Pricing and allocations are expected this afternoon.

Montenegro is rated Ba3 with a negative outlook from Moody’s and B+ with a stable outlook from Standard & Poor‘s. (Reporting By Michael Turner, Editing by Helene Durand)

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