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South Africa sets guidance for US dollar bonds
September 29, 2016 / 1:21 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)

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