Zambia sets final guidance of 8.75% area for US dollar Eurobond -source

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Bond and Derivatives Exchange

The Republic of Zambia, rated B+ by Standard & Poor’s and B by Fitch, has revised yield guidance to a final 8.75% area (plus or minus 12.5bp) on a new US-dollar denominated 10-year Eurobond.

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While the final size is still to be determined, it will be a maximum US$1bn. Demand for the deal is currently over US$4.25bn.

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Zambia began marketing the bond at 8.75-8.875% earlier on Monday.

The benchmark-sized note will be sold under the 144a/Reg S format and is expected to price later today.

Barclays and Deutsche Bank are the lead managers. (Reporting by Sudip Roy; editing by Alex Chambers)

Reuters

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