Azerbaijan sets final yield on US$1.25bn 10-year bond

Mon Mar 10, 2014 12:35pm EDT

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LONDON, March 10 (IFR) - The Republic of Azerbaijan has set a final yield of 5% and is set to raise US$1.25bn through its debut 10-year Eurobond offering, according to market sources.

Final terms came at the tight end of revised guidance of 5.0% to 5.125%, after investors placed orders worth around US$4bn for the issue.

The sovereign, rated Baa3/BBB- by Moody's and Fitch, released initial price thoughts of low to mid 200bp over US Treasuries earlier on Monday.

Barclays, Citigroup and Deutsche Bank are the lead managers on the 144A/Reg S issue. (Reporting by Davide Scigliuzzo; Editing by Alex Chambers)

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