October 18, 2016 / 2:11 PM / a year ago

Suriname sets IPTs on US$500m 10-year bond

NEW YORK, Oct 18 (IFR) - The Republic of Suriname has set initial price thoughts of 9.5% area on a US$500m bond sale, with pricing expected as soon as Wednesday.

Proceeds are being used to redeem outstanding 8.57% bridge notes, to make a loan to state-owned oil company Staatsolie and for general budgetary purposes.

Oppenheimer and Scotiabank are acting as joint bookrunners on the 144A/Reg S deal, which is expected to be rated B1/B+/B+. (Reporting by Paul Kilby; Editing by Marc Carnegie)

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